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Check out the companies making the biggest moves at midday:
carvana – Carvana shares fell more than 15%, with trading briefly halted at one point due to volatility. The selloff comes after the used-car seller’s worst day on Friday, when the company lost profits and Morgan Stanley withdrew its rating and price target for the stock.
Metaplatforms – Shares of Facebook owner Meta jumped 4.7% following a Wall Street Journal report over the weekend that the company could begin mass layoffs as early as Wednesday. The layoffs could affect thousands of employees, according to the Journal. The company said it had 87,000 employees at the end of September.
Walgreens Boot Alliance – Shares of the drugstore chain gained 4% after announcing it would invest $3.5 billion to back VillageMD’s acquisition of urgent care provider Summit Health. Walgreens raised its fiscal 2025 sales target for its U.S. healthcare business from $14.5 billion to $16.0 billion, from $11.0 billion to $12.0 billion dollars to reflect the agreement.
red fin – Redfin’s stock fell 15% after Oppenheimer was downgraded to shares for underperforming performance. The investment bank said the online real estate firm’s business model was flawed.
Berkshire Hathaway — Shares of Warren Buffett’s conglomerate rose more than 1% after the company posted a 20% increase in operating profits in the third quarter. Berkshire also spent $1.05 billion on share buybacks during the quarter. The Omaha-based company, however, suffered a $10.1 billion loss on its investments during the market turmoil in the third quarter.
travel — The global healthcare company jumped 16% after announcing plans to create an ophthalmology franchise by acquiring Oyster Point Pharma and Famy Life Sciences. Viatris also released its quarterly results, with revenues below estimates.
Funko – Funko shares jumped 18% as investors bought back the name. Shares of the toymaker lost nearly 60% on Friday after reporting disappointing quarterly results and issuing weak forward guidance that included a fourth-quarter loss.
Palantize – Palantir shares fell more than 12% after the company’s third-quarter earnings missed analysts’ estimates, although it beat revenue. In response to the software company’s report, Citi said it sees “another downside for PLTR with rapidly decelerating growth” as well as continued uncertainty around government spending.
DoorDash – Shares of the food delivery company rose 2.5% after being upgraded by Oppenheimer to outperform. The company cited improving margins for DoorDash.
boston beer – Boston Beer fell 1.3% after Morgan Stanley began hedging the stock with an underweight rating. Its analyst said he was concerned about growth prospects as hard malt-based seltzers continue to decline and there has been a “dizzying array” of new competitors.
Sea Limited – Shares of Sea Limited rebounded 8.6% after being overweighted from neutral by JPMorgan, which said it saw a “rapid” improvement in profitability.
Ryanair — Shares of the international airline traded up 2% after the company reported record after-tax profit for the first six months ending in September.
Energy stocks – Energy stocks led the S&P 500 gains as the sector rose 1.7% in the broader market index following a surge in the price of natural gas futures. Shares of EQT, hugue baker and western oil outperformed, up 8.8%, 4.6% and 3.3%, respectively.
– CNBC’s Carmen Reinicke, Alexander Harring, Yun Li and Sarah Min contributed reporting.
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