Cognizant, American Airlines, Logitech among stocks making biggest moves midday

Cognizant's shares rose 8% after the company raised its fourth-quarter revenue guidance. It also named Ravi Kumar S as CEO and a member of the board, effective immediately. Kumar was previously president of Infosys.
American Airlines' shares rose by more than 7% after the airline company increased its revenue and profit estimates for the fourth quarter. The reason for the hike in estimates was cited as strong demand and high fares. American Airlines is set to report its earnings on January 26.
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Logitech International's share price fell more than 16% after the company announced preliminary results showing declining sales and earnings. For the quarter ending Dec. 31, Logitech said it expects net sales to be down more than 20% year over year in U.S. dollars. Operating income is projected to fall more than 30%. In a statement, CEO Bracken Darrell said a slowdown in enterprise sales was partly to blame for the results.
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Disney's shares rose 4.1% after the company announced that Mark Parker, the executive chairman of Nike, would be its new chairman. In addition, the company opposed Nelson Peltz of Trian as he pushed for a seat on the board, igniting a proxy battle.
Hewlett Packard Enterprise (HPE) shares fell 2.3% Thursday after the company announced its acquisition of Pachyderm, a startup that provides software to automate machine learning pipelines for large-scale AI applications. Evercore ISI downgraded HPE stock to "in line" from "outperform" following the news.
KB Home's stock price fell by 2.8% after the company's earnings failed to meet analysts' expectations. KB Home reported earnings per share of $2.47, significantly lower than the $2.86 forecast by StreetAccount. The company also warned that it would be cutting prices in the future.
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Tesla's plans to expand its Shanghai factory have been put on hold due to data concerns raised by China's central government, Bloomberg reports. The expansion was initially set to begin in the middle of the year.
Energy stocks were among the top performers on Thursday as oil prices received a boost from U.S. CPI data. Hess and Halliburton rose by more than 4%, while SLB, Marathon Petroleum, Occidental Petroleum, Coterra and Devon Energy all advanced by more than 2%.
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Caterpillar's shares rose 2.4% to a 52-week high after JPMorgan added the manufacturer to its focus list. JPMorgan said that Caterpillar's margin upside potential is currently underappreciated.
Bed Bath & Beyond surged 18% today, continuing the gains it saw yesterday when a handful of meme stocks surged. The stock is up almost 69% from Wednesday's close.