Stocks making the biggest moves midday: Walmart, Deere, Meta, Chubb and more

Published Thu, May 16 202411:56 AM EDTUpdated Thu, May 16 20244:05 PM EDT

Check out the companies making headlines in midday trading: Meta — Shares pulled back 1.7% after the European Union opened a probe into the company regarding child safety concerns on social media platforms Facebook and Instagram. Deere — Deere shares slipped 3.3% after the maker of agricultural equipment cut its full-year guidance. The company said it now expects net income of roughly $7 billion, down from a range of $7 billion to $7.5 billion. Walmart — Shares rallied around 7% after the company reported adjusted first-quarter earnings of 60 cents per share, topping the 52 cents expected from analysts polled by LSEG. Revenue was $161.5 billion, beating the $159.5 billion consensus estimate. Walmart said it made big gains in e-commerce and won over more high-income shoppers. Chubb — Shares of the insurance company advanced 4.7% after Warren Buffett's Berkshire Hathaway revealed Chubb was the confidential stock the conglomerate had been purchasing for two straight quarters. Berkshire bought nearly 26 million shares for about $6.7 billion, making it the second-largest holder in Chubb, according to a regulatory filing. GameStop , AMC — The meme stocks retreated for a second day following a speculative rally in the beginning of the week. GameStop and AMC declined 30% and 15.3% on Thursday, respectively. While the swift rally earlier this week turned heads on Wall Street, the retail interest in these meme names paled in comparison to the epic mania three years ago. GameStop and AMC are still up more than 60% each on the week, however. Canada Goose — The luxury apparel maker soared 15.9% on the back of stronger-than-expected earnings and revenue in its fiscal fourth quarter. Canada Goose said one closely followed profit margin would expand by about 100 basis points in the 2025 fiscal year compared to the prior one. Coupang — The South Korean e-commerce company rose 1.5% after UBS upgraded shares to buy from neutral. The firm cited Coupang's "expanding portfolio and strong logistics network." Corebridge Financial — Shares surged more than 7% after insurance company AIG announced it will sell its 20% stake in Corebridge to Nippon Life in a $3.8 billion deal. GoodRx — The health-care company's shares popped 10.9% on the back of an upgrade from Raymond James to outperform from market perform. Following GoodRx's inaugural investor day on Wednesday, Raymond James said it is "incrementally positive" on the stock given its reaccelerating revenue and improving margins. — CNBC's Samantha Subin, Alex Harring, Yun Li and Pia Singh contributed reporting.