Stocks making the biggest moves midday: Nike, Rent-A-Center, Carnival Cruise

Check retired the companies making headlines successful midday trading.

Nike — Nike shares dropped 12% aft the sneaker elephantine said Thursday its inventory was overstocked, up 44% successful its latest quarter. As a effect it volition connection much discounts to wide retired the excess merchandise. Other retailers were besides dragged down, with Lululemon Athletica and Under Armour losing astir 6% and astir 5% respectively.

Rent-A-Center — Shares of Rent-A-Center slipped 20% aft the institution slashed its current-quarter net guidance, saying that economical conditions person weighed connected user postulation and outgo patterns.

Carnival Cruise — Shares of Carnival Cruise plunged astir 20% aft the institution forecast a nonaccomplishment for the 4th quarter, saying precocious substance prices and ostentation volition hold its instrumentality to profitability. Royal Caribbean and Norwegian Cruise Lines besides slipped, falling 11% and 14%, respectively.

Micron — Shares of Micron roseate 1.5% aft the institution reported quarterly net that bushed Wall Street expectations, adjacent though income fell. The chipmaker besides gave a weaker-than-expected gross outlook, saying income are being deed by slowing user demand.

Charles River Laboratories — Charles River shares roseate 6% aft Jefferies upgraded the banal to bargain from hold, citing the company's imaginable successful carnal studies.

Twitter — Shares of Twitter roseate 1.5% aft texts betwixt its founder, Jack Dorsey, and Elon Musk were released successful tribunal filings. The Tesla CEO is embroiled successful a ineligible conflict implicit his bid to bargain the societal media company.

Nucor — Shares of alloy institution Nucor jumped 2.7% aft it announced plans to walk $425 cardinal expanding a galvanized alloy enactment astatine its South Carolina plant.

Amylyx Pharmaceuticals — Shares of the pharmaceutical institution dropped 6.3% contempt the banal rallying aft hours Thursday connected quality of the Food and Drug Administration approving its arguable Lou Gehrig's illness drug.

Generac — Shares of Generac gained 4.5% aft Cowen initiated coverage of the institution with a bargain rating. The generator institution is simply a wide manufacture victor and has worth successful its star offering.

— CNBC's Alex Harring and Michelle Fox contributed reporting.