By Liz Moyer
Investing.com -- Stocks jumped as the U.S. midterm elections open the prospect of a divided government and the gridlock that comes along with it, meaning a likelihood the next Congress would not pursue big shifts in policy. Here are the midday movers for Nov. 8:
LYFT Inc (NASDAQ:LYFT) shares fell 21% after the ride-hailing firm reported lower than expected rider numbers and the biggest slowdown in revenue growth in a year despite rising prices for rides per passenger.
Take-Two Interactive Software Inc (NASDAQ:TTWO) shares fell 10% after the video game company cut its full year outlook and said mobile game players are cutting back their in-game purchases amid the tougher economic environment.
Kohl's Corp (NYSE:KSS) stock rose 10% after the department store operator said CEO Michelle Gass would leave in December for a new job at Levi Strauss (NYSE:LEVI). Preliminary third quarter numbers show EPS of 82 cents, while analysts are forecasting 63 cents a share. Same store sales are expected to fall 6.9%.
Coty Inc (NYSE:COTY) stock rose 1.9% after it beat expectations on sales for the quarter but missed expectations for adjusted earnings per share. It reaffirmed its full-year outlook, citing strong demand and despite foreign exchange challenges.
Walt Disney Company (NYSE:DIS) shares were rising 1.1% as the movie studio and theme park operator prepared to report its latest earnings. Expected revenue of $21.3 billion would be up 15% from the same time last year. Analysts will be following what it says about streaming media and theme park trends.