Stocks making the biggest moves midday: Apple, Meta, Costco, Marvell, C3.ai and more

Check retired the companies making headlines successful midday trading.

Meta — Shares of the tech elephantine roseate much than 5% aft the tech elephantine announced a melodramatic terms driblet for its higher-end virtual world headset, the Quest Pro. Wall Street besides got bullish connected Meta's artificial quality potential. Barclays named Meta arsenic 1 of the AI beneficiaries, portion Morgan Stanley included the institution arsenic a apical prime successful the space, saying the exertion is astatine an inflection point.

Apple — The exertion elephantine precocious 2.6% aft Morgan Stanley reiterated its apical prime rating, noting the banal has a "catalyst-rich lawsuit path" implicit the adjacent year. The steadfast predicts the banal could rally much than 20% successful the adjacent 12 months.

Costco Wholesale — The retailer's shares dropped 3.4% aft the company's fiscal second-quarter net missed analysts' expectations.  The wholesale retailer reported gross of $55.27 billion, little than the statement estimation of $55.54 billion, according to Refinitiv.

Hormel Foods — Shares for the nutrient processing institution were down 2.7% aft JPMorgan issued a downgrade to underweight for neutral. The steadfast said that the spam maker's shares are not "fully de-risked" yet.

Marvell Technology  — The spot banal mislaid 7.3% aft Marvell Technology reported mixed quarterly results and provided anemic guidance. The institution said it expects first-quarter net of 29 cents, abbreviated of the 41 cents expected, according to StreetAccount. Inventory corrections and the resulting charges are to blame, but absorption expects the headwinds to subside aboriginal successful the year.

First Solar — The star banal gained 5% aft UBS said it would beryllium 1 of the biggest beneficiaries among covered stocks from the Inflation Reduction Act.

Asana — Asana shares jumped 9% aft D.A. Davidson upgraded the bundle banal to bargain from neutral. "Sensor Tower app information for Asana shows continued maturation successful progressive users, and a marked acceleration successful downloads," the steadfast said.

Bumble – Shares of the dating app supplier slid 9.1%. The determination comes aft Bumble announced it would terms a secondary offering of 13.75 cardinal shares of its communal banal astatine $22.80 per share. The selling parties see definite stockholders affiliated with Blackstone and Bumble's laminitis Whitney Wolfe Herd.

Broadcom — Shares of the chipmaker popped 5% connected the backmost of a stronger-than-expected quarterly report. Broadcom earned $10.33 per stock connected gross of $8.92 billion. Analysts expected a nett of $10.10 per stock connected gross of $8.92 billion. The institution besides issued fiscal second-quarter guidance that bushed expectations.

Integral Ad Science — Shares jumped 10% aft the integer advertisement institution posted an net and gross bushed successful the 4th quarter. Revenue came successful astatine $117.4 million, topping StreetAccount' statement estimation of $111.3 million. Fourth 4th net of $40 cardinal besides bushed estimates of $36.9 million. Integral Ad Science besides posted a higher guidance for the archetypal 4th than what FactSet analysts had expected.

Zscaler — Shares of the cybersecurity institution slid astir 10% contempt Zscaler reporting a stronger-than-expected archetypal quarter. The institution earned an adjusted 37 cents per share, supra the 29 cents expected by analysts, according to Refinitiv. However, billings guidance was a interest connected Wall Street, with Stifel expert Adam Borg saying successful a enactment to clients said that the guidance was "muted."

C3.ai — The endeavor artificial quality company's shares surged 30% aft its fiscal third-quarter results topped Wall Street's expectations. The institution posted a nonaccomplishment of 6 cents per share, compared to Refinitiv analysts' estimates for a 22 cent loss. It besides posted gross of $66.7 million, beating expectations of $64.2 million.

Norwegian Cruise Line Holdings — Shares of the cruise institution roseate much than 3%, continuing to bounce backmost from a post-earnings slide. Norwegian dropped much than 10% connected Tuesday aft reporting a wider-than-expected nonaccomplishment for the 4th quarter, but the banal has present clawed backmost astir of that decline.

JBG Smith Properties — Shares for the existent property concern spot and builder were down 6.2% aft Amazon announced that it would intermission operation connected its Virginia headquarters.

Samsara — Shares of the net of things institution rallied much than 18.8% connected the backmost of stronger-than-expected fourth-quarter results. The banal besides got a boost from absorption commentary pointing toward breakeven escaped currency travel by year-end.

— CNBC's Jesse Pound, Yun Li, Michelle Fox, Fred Imbert and Darla Mercado and Alex Harring contributed reporting