Stocks making the biggest moves midday: Peloton, Toast, Illumina and more

cnbc.com:

Check out the companies making the biggest moves midday:

Peloton — Shares of Peloton jumped 6% after the company told employees it was cutting about 780 jobs, raising prices on some equipment and closing a number of retail stores.

Illumina — The gene-sequencing technology company dropped more than 9% after reporting lower-than-expected second-quarter profit and revenue. Illumina also issued an outlook that fell short of analyst estimates.

New York Times — Shares of the newspaper fell 3%, retreating from a near 11% rally in the previous session. Thursday's rally came after activist investor ValueAct Capital took a 6.7% stake, pushing the publisher to charge more for subscriber-only content.

Toast — Shares of the payment tech company jumped more than 12% after it raised its earnings outlook for the year. The company also reported a loss for the latest quarter, but it was narrower than what analysts had anticipated.

Rivian — Shares of the electric vehicle maker added nearly 1% after beating revenue expectations in the most recent quarter and posting a smaller-than-expected loss per share. Rivian reiterated its delivery guidance for the year said it expects a bigger-than-anticipated loss.

Poshmark — The online fashion retailer saw its shares tumble almost 10% after issuing weaker-than-expected revenue guidance for the current quarter. While it reported a loss in the second quarter, sales beat analyst expectations.

Teladoc — Shares of Teladoc gained more than 5% after DA Davidson initiated coverage of the telehealth company with a buy rating.

Olo — The restaurant software maker plummeted 33% following a weaker-than-expected current quarter and full-year revenue outlook. Additionally, Olo second quarter revenue missed