Stocks making the biggest moves midday: News Corp, Alibaba, Applied Materials and more

Check retired the companies making headlines successful midday trading.

News Corp — The media company's shares jumped astir 4% aft reporting an net bushed successful the fiscal fourth-quarter. News Corp posted adjusted net of 14 cents per share, portion analysts polled by Refinitiv had estimated 8 cents per share. Meanwhile, the company's gross of $2.43 cardinal missed expert forecasts of $2.49 billion.

UBS — Shares roseate 5% connected quality that UBS ended a astir $10 cardinal nonaccomplishment extortion agreement and a nationalist liquidity backstop with Credit Suisse. The institution besides confirmed that Credit Suisse afloat repaid a 50 cardinal Swiss franc exigency liquidity indebtedness to the Swiss National Bank.

Chip stocks — Semiconductor shares dropped much than 2% Friday, putting the assemblage connected gait for a play diminution of 4.5%. The VanEck Semiconductor ETF (SMH) fell 2.2%. NXP Semiconductors, Lam Research, Applied Materials, Nvidia and On Semiconductor each tumbled by astir 3% oregon much midday Friday. 

Maxeon Solar Technologies — Shares plummeted 32% aft the institution reported a gross miss successful the 2nd 4th amidst weakening demand. The institution posted $348.4 cardinal successful gross past quarter, abbreviated of the $374.3 cardinal anticipated by analysts polled by FactSet. Maxeon forecasts gross to scope betwixt $280 cardinal and $320 cardinal successful the 3rd quarter, portion analysts called for $394.8 million.

China-based companies — The U.S.-traded shares of Chinese companies tumbled aft Chinese spot elephantine Country Garden issued a nett warning amidst a diminution successful existent property sales, adding to antagonistic sentiment surrounding China's economy. JD.com and Alibaba mislaid 6% and 4%, respectively. Nio declined by 2.7%. 

Wynn — The casino operator's shares retreated 4%. The diminution comes aft shares roseate astir 3% successful the erstwhile league connected the backmost of the company's net announcement. Casino and hospitality adjacent Caesars Entertainment mislaid 3.2% successful sympathy.

Krispy Kreme — The doughnut shaper popped 3% aft JPMorgan reiterated its overweight rating, noting that shares are cheap.

Coinbase — The crypto exchange's banal dipped astir 2% aft Mizuho reiterated its underperform standing on the stock. The Wall Street steadfast said retail crypto traders are flocking to Robinhood to commercialized cryptocurrencies and distant from Coinbase.

Tapestry — Shares gained 1% Friday, partially recouping losses of 16% from Thursday's trading session. Tapestry announced Thursday greeting it would acquire Capri Holdings successful an $8.5 cardinal deal. 

Kura Oncology — The biotech company's shares roseate 4% aft Bank of America initiated sum of Kura with a bargain standing successful a Friday note. 

DigitalOcean Holdings — Shares added 2.8% pursuing an upgrade from Morgan Stanley to adjacent value from underweight. The steadfast said its underweight thesis connected DigitalOcean has mostly played out.

— CNBC's Alex Harring and Yun Li contributed reporting