Midday movers: Alibaba, Oscar Health, PVH and more

March 28, 2023 2:30 PM EDT

By Liz Moyer -- Stocks were heading lower on Tuesday as bond yields rose and dinged tech stocks. Here are the midday movers for March 28.

  • Alibaba Group Holdings Ltd ADR (NYSE: BABA) shares rose 14% after the Chinese e-commerce giant said it would split into six divisions, including e-commerce and cloud. Each unit would be able to find its own funding, including a possible initial public offering.

  • Oscar Health Inc (NYSE: OSCR) shares jumped 64% after the insurer said Aetna's former CEO, Mark Bertolini, would become its CEO in April.

  • PVH Corp (NYSE: PVH) stock rose 19% after the parent of fashion brands Tommy Hilfiger and Calvin Klein beat fourth-quarter estimates for adjusted profit and revenue.

  • Walgreens Boots Alliance Inc (NASDAQ: WBA) shares rose 3.7% after the drugstore chain reported better-than-expected second-quarter adjusted earnings and sales.

  • Occidental Petroleum Corporation (NYSE: OXY) shares rose 4% after Warren Buffett's Berkshire Hathaway (NYSE: BRKa) revealed it raised its stake to 23.5% after acquiring 3.7 million shares.

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