Stocks making the biggest moves midday: Gilead Sciences, CVS, Electronic Arts and more

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Check out the companies making headlines in midday trading Wednesday.

Gilead Sciences — Shares of the biopharma company rose 6.6% after quarterly revenue of $6.26 billion smashed a FactSet estimate of $5.86 billion. Full-year revenue guidance of $24.5 billion also came in better than expected.

CVS Health — The pharmacy giant's shares rose 5.7% after the company beat Wall Street's expectations for the second-quarter earnings. It also posted a same-store sales increase of 8% compared with the same period a year ago, citing customer purchases of at-home Covid test kits and cough, cold and flu medications.

Electronic Arts — The video game company rose 4% after it reported adjusted earnings of 47 cents per share, beating a Refinitv forecast of 28 cents per share for its most recent quarter. Net bookings of $1.30 billion also beat estimates of $1.26 billion, thanks in part to strength in the EA's FIFA franchise.

Charles River Laboratories — Shares dropped 9.2% after the pharmaceutical company reduced full-year guidance, citing a stronger dollar and rising interest rates.

Starbucks — The coffee chain saw shares edge higher by more than 3% after it reported better-than-expected quarterly results, despite lockdowns in China weighing on its performance. Within the U.S., however, net sales rose 9% to $8.15 billion and same-store sales grew 3%.

Moderna — Shares of the vaccine stock jumped 16.7% after Moderna's second-quarter results easily topped Wall Street estimates. The company reported $5.24 in earnings per share on $4.75 billion of revenue. Analysts surveyed by Refinitiv were expecting $4.55 in earnings per share and $4.07 billion of revenue. Moderna also announced a $3 billion share buyback program.

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