Stocks making the biggest moves midday: Shake Shack, Charles Schwab, Activision Blizzard and more

Check retired the companies making headlines successful midday trading.

Shake Shack — The accelerated nutrient chain's banal jumped much than 6% aft the Wall Street Journal reported that activistic capitalist Engaged Capital is readying a proxy combat for 3 committee seats astatine the company. Engaged Capital bought a 6.6% involvement successful Shake Shack, including swaps. The banal has rebounded much than 60% this year.

Magellan Midstream Partners, Oneok — Magellan Midstream Partners jumped 14.7% aft Oneok agreed to acquire the institution for astir $18.8 billion. Oneok shares slid 7.7%.

Western Digital — Western Digital precocious 8% successful midday trading. A Reuters report, citing 2 sources acquainted with the matter, said the steadfast is ramping up merger talks with Kioxia Holdings, Japan's machine representation maker.

H&R Block, Intuit — Shares of the taxation preparers dropped 3% and 2%, respectively, pursuing reports of the imaginable instauration of a government-run online taxation filing program. The IRS is owed to merchandise the study this week, the Wall Street Journal reported. The bureau has been looking into it arsenic portion of the Inflation Reduction Act.

Newmont — Shares of the golden miner added astir 1% aft it announced it would get Australian miner Newcrest. It is the 3rd largest planetary woody truthful acold this year, worthy astir $17.8 billion, according to Reuters.

Charles Schwab — The brokerage steadfast saw its shares ascent much than 3% midday aft Raymond James upgraded the banal and said it can rally astir 30%, arsenic concerns astir stableness successful U.S. banks person not affected Schwab's quality to pull caller accounts and assets.

Microsoft, Activision Blizzard — The European Union connected Monday approved Microsoft's projected plan to bargain gaming institution Activision Blizzard for $69 billion. Activision shares added 1%, portion Microsoft was small changed.

SoFi Technologies — The steadfast mislaid astir 9% successful midday trading. Wedbush downgraded the banal earlier connected Monday, implicit concerns SoFi whitethorn beryllium nearing a ceiling with interest growth, which volition propulsion SoFi to rise superior to turn further.

Albemarle — Shares of the lithium institution roseate 4.2% pursuing an upgrade from Baird.  The steadfast said that Albemarle is "a person successful catalyst products" and has imaginable for greater marketplace share. To beryllium sure, it noted that lithium prices person declined much than 40% twelvemonth to date.

Dupont de Nemours — The chemicals shaper gained 2.4% aft Deutsche Bank upgraded shares to a bargain rating. The Wall Street steadfast said shares commercialized astatine a important discount to peers.

AerCap — The aviation leasing institution added 2.6% connected the backmost of an upgrade from Citi, which said request should stay strong.

Lam Research — Lam added 2.6% aft Citi added a affirmative catalyst ticker connected the stock. The slope said the semiconductor institution has a "self-help" communicative amid an enlargement successful Asia.

Crocs — The footwear shaper precocious 3.9% aft Baird called the banal a caller pick. Baird said it believes the institution tin conscionable oregon transcend guidance for 2023.

Tapestry — Shares roseate 4.6% pursuing an upgrade to outperform from marketplace execute by Bernstein. The Coach and Kate Spade genitor has a beardown valuation and semipermanent concern case, the Wall Street steadfast said.

— CNBC's Samantha Subin, Hakyung Kim, Michelle Fox, Yun LI, Brian Evans, Tanaya Macheel and Sarah Min contributed reporting