Stocks making the biggest moves midday: Moderna, Pepsi, Lyft and more

Check retired the companies making the biggest moves midday Wednesday:

Moderna — Shares of Moderna surged 10% aft the cause shaper announced it volition spouse with Merck to jointly make and merchantability a crab vaccine. Moderna's vaccine is being studied successful operation with Merck's Keytruda to dainty patients with high-risk melanoma successful a Phase 2 trial.

Norwegian Cruise Line Holdings — Shares of Norwegian roseate astir 8% aft UBS upgraded the cruise relation to a bargain and said its shares tin rally 30% fixed the important betterment successful bookings successful its third-quarter preview. Competing stocks Royal Caribbean and Carnival each added much than 6%.

T. Rowe Price — Shares of T. Rowe Price tumbled 5% aft the fiscal steadfast said preliminary nett outflows for the 3rd 4th were $24.6 billion, bringing preliminary year-to-date nett outflows to $44.6 billion. It reported preliminary month-end assets nether absorption of $1.23 trillion arsenic of Sept. 30.

American International Group — AIG's banal rallied 3% aft Jeffries upgraded it to bargain from hold. Jefferies said it sees "unappreciated halfway growth" for the planetary security company.

PepsiCo — Shares of the snack and beverage shaper jumped 4.3% aft the institution reported profits and gross that topped expert expectations. Pepsi besides raised its guidance for the twelvemonth arsenic it was capable to successfully rise prices connected its products.

Lyft — Lyft shares gained 5.8% pursuing an upgrade from Gordon Haskett to bargain from hold. The steadfast said the banal is trading astatine charismatic levels and should payment arsenic operator proviso improves. The upgrade came aft shares fell Tuesday arsenic the Labor Department proposed a change to however gig workers are classified.

Philips — Netherlands-based Philips fell much than 11% to a 52-week debased aft it said third-quarter halfway nett would beryllium down astir 60% from past year. The wellness tech institution besides reported a deed of astir $1.3 cardinal to the worth of its respiratory attraction offering.

Cameco — Shares of the uranium shaper plunged 15% aft Cameco signed an statement with powerfulness works relation Brookfield Renewable Partners to bargain Westinghouse Electric successful a woody worthy $7.9 billion, including debt. Brookfield Renewable Partners slid astir 2%.

El Pollo Loco — El Pollo Loco's banal jumped 14.4% aft the edifice relation announced a $1.50 per stock peculiar dividend Tuesday. It besides announced a caller stock repurchase programme worthy up to $20 million.

KnowBe4 — Shares of KnowBe4 rallied 14% aft the Wall Street Journal reported the cybersecurity steadfast is adjacent to finalizing a woody to beryllium bought by backstage equity steadfast Vista Equity Partners. The woody is worthy astir $4.5 billion, radical acquainted with the substance told the paper.

Rocket Lab — Shares dropped 5.7% aft Credit Suisse initiated sum of the abstraction banal with an underperform rating, citing a challenging maturation trajectory up for the industry. The steadfast said Rocket Lab has astir 30% downside from here.

American Airlines — American Airlines' banal roseate 2%, a time aft the bearer said its third-quarter sales apt came successful amended than it antecedently expected. Revenue for the 3 months ended Sept. 30 volition beryllium up 13% from the aforesaid play of 2019, erstwhile it brought successful $11.91 billion, American Airlines said.

— CNBC's Tanaya Macheel, Samantha Subin, Alex Harring and Sarah Min contributed reporting.