Stocks making the biggest moves midday: Lowe's, 3M, First Horizon, Nio and more

Check retired the companies making the biggest moves midday:

Lowe's — Shares fell 5.8% aft the location betterment retailer's fiscal fourth-quarter sales fell abbreviated of Wall Street's expectations, with gross coming successful astatine $22.45 cardinal versus the $22.69 cardinal estimation from Refinitiv. While it topped EPS estimates, Lowe's gave income guidance for 2023 that missed expectations.

3M — The banal gained 3% pursuing 3M's announcement that Department of Defense records amusement the immense bulk of the claimants successful the Combat Arms earplug litigation against the institution person nary proceeding impairment.

First Horizon — Shares sank 10% aft its acquisition by Toronto-Dominion Bank was delayed. TD informed First Horizon that it doesn't expect the indispensable regulatory approvals to beryllium received successful clip to implicit the merger by May 27, according to a filing with the Securities and Exchange Commission. TD said it could not supply a caller projected closing astatine this time, but said successful an email to Bloomberg that it was committed to the transaction.

Sarepta Therapeutics — The biotech banal surged 18% aft Morgan Stanley upgraded it to overweight from adjacent weight. The Wall Street steadfast said Sarepta Therapeutics' way for its investigational cistron therapy for Duchenne muscular dystrophy (DMD), SRP-9001, present appears "de-risked."

Rivian Automotive — Rivian's banal plummeted much than 17% aft the car shaper posted mixed fourth-quarter results. Rivian besides shared an electrical conveyance accumulation outlook that fell abbreviated of analysts' expectations.

Nio — Shares of the Chinese electrical conveyance institution dropped much than 5% aft the steadfast reported a widening nett nonaccomplishment successful the 4th quarter. The banal has fallen much than 8% twelvemonth to date, pursuing a astir 70% nonaccomplishment successful 2022.

Monster Beverage — The beverage shaper dropped 2.9% aft missing expectations of analysts polled by FactSet for fourth-quarter earnings. Monster posted 57 cents successful per-share earnings, which is 6 cents beneath the statement estimate. Quarterly gross came successful astatine $1.51 billion, beneath the $1.6 cardinal expected. Additionally, the institution announced a two-to-one banal split.

Marqeta — Shares sank astir 23% aft being downgraded by JPMorgan to neutral from overweight. The steadfast cited uncertainty implicit the company's maturation for its determination to the sidelines.

Novavax — The vaccine developer's banal terms dropped 26% aft it said connected Tuesday that "substantial uncertainty exists regarding our quality to run arsenic a going concern" done the adjacent year.

First Solar — Shares of First Solar gained 15% aft the star institution issued full-year guidance connected Tuesday that came retired up of expectations connected per-share net and revenue. First Solar reported a fourth-quarter nonaccomplishment of 7 cents per stock compared with a 17 cent per-share nonaccomplishment expected by analysts surveyed by FactSet. The company's gross was successful enactment with analysts' expectations of $1 billion.

AMC Entertainment — Shares of the movie-theater concatenation dropped much than 6% a time aft AMC reported a wider-than-expected nonaccomplishment for the 4th quarter. AMC mislaid 26 cents per share, compared with the 21 cents expected by analysts according to Refinitiv, adjacent though gross came successful up of estimates.

Warby Parker — The banal mislaid 5.7% aft being downgraded to neutral from bargain by Citi, who said the eyeglass company's maturation outlook was "too blurry."

Red Robin Gourmet Burgers — The edifice chain's banal soared 26% successful midday trading. Benchmark upgraded Red Robin to bargain from hold, saying a turnaround communicative is underway. The institution posted its latest quarterly results aft the doorbell Tuesday, with an adjusted fourth-quarter nonaccomplishment of $1.35 per stock compared to analysts' estimation of a per-share nonaccomplishment of 62 cents, according to FactSet.

Ambarella —The semiconductor banal shed 11% aft being downgraded to neutral from buy by Roth MKM. The Wall Street steadfast cited "inventory digestion" for the call. Ambarella gave first-quarter guidance that missed analysts' expectations connected Tuesday, according to FactSet.

— CNBC's Alex Harring, Jesse Pound, Sam Subin, Pia Singh and Yun Li contributed reporting.