The Stocks With the Biggest Midday Moves: Carvana, Colgate-Palmolive, Tesla and More

Colgate-Palmolive's stock rose 2.8% after Morgan Stanley upgraded it from "equal weight" to "overweight" and named it the top pick in the household and personal care industry. The firm said the stock was attractively priced after recent sell-off.

Tesla's shares fell 2.8% after Berenberg lowered its earnings estimate for Tesla by around 25% for 2023. This followed the company's decision to cut prices for its electric vehicles. However, the firm upgraded Tesla's stock to "buy" from "hold."

GE Healthcare Technologies' stock rose 4% after the company reported its first earnings as a public company. GE Healthcare's revenue came in at $4.9 billion, an 8% year-over-year increase, and its fourth-quarter adjusted EPS was $1.31.

Ford Motor Company's shares fell by nearly 1.4% after the company announced price cuts for its electric Mustang Mach-E crossover. The move comes after Tesla announced that it would trim prices earlier this month in order to counteract dwindling demand.

Goldman Sachs has initiated coverage of Macy's with a buy rating, saying that the retailer is the best-positioned company in its sector. Macy's stock advanced 1.8% on the news.

AMC Entertainment's shares fell by more than 7% after the company announced a shareholder meeting in March to discuss a potential change to its capital structure. The meeting would allow shareholders to vote on increasing the total number of shares the company can issue, and on a reverse stock split to convert its preferred shares to common shares. The preferred or "APE" shares, which trade at a large discount to the common shares, jumped by more than 16%.

Carvana's stock shot up 28.5% today, apparently due to a short squeeze. The stock was briefly paused in early morning trading due to the rapid runup.

Moderna's stock price fell by 3.2%. This is a 7% decrease from last week, after a Reuters report said that the European Union is in talks with Pfizer and BioNTech. The purpose of these talks is to reduce the number of Covid-19 vaccine doses that the EU is committed to purchasing this year. In exchange for this, the EU would pay a higher price per dose.

Advanced Micro Devices' shares fell 2.1% after a number of Wall Street analysts said they were concerned about the company's upcoming earnings report. This follows Intel's disappointing release. AMD is scheduled to report its earnings on Tuesday.