Check out the companies making headlines midday Wednesday:
div > div.group > p:first-child"> Under Armour — Shares of Under Armour rose more than 2% after Citi upgraded its rating on the athletic apparel maker to buy from neutral, saying Under Armour is"growing up" with a"renewed focus on driving profitability."
Lyft — Shares of Lyft tumbled more than 6% following skepticism of the company's value amidst reports that rival Uber will unveil its public offering on Thursday. New York University professor Aswath Damodaran said Tuesday on CNBC that shares should be trading closer to $59 per share, cutting down $3 billion off the ride-sharing company's $18 billion valuation. Investors also expect some competition on the public markets very soon from Uber.
JD.com — Shares of JD.com fell nearly 2% after reports came out Wednesday that the Chinese e-commerce company plans to cut up to eight percent of its workforce, or 12,000 jobs. JD spokesperson declined to comment on the job cuts, saying that the company was getting back to"its entrepreneurial roots," according to the reports.
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