Stocks making the biggest moves midday: Rivian, Western Alliance, Peloton and more

cnbc.com:

Check out the companies making headlines in midday trading Monday.

Abbott Laboratories — The medical device company jumped 7.8% following its earnings report. Abbott reported $1.03 earnings per share on revenue of $9.75 billion for the first quarter. Both beat Wall Street expectations, with analysts polled by FactSet anticipating 99 cents in earnings per share on $9.67 billion in revenue. The company reaffirmed its full-year adjusted earnings per share guidance of between $4.30 and $4.50, a range that encompasses the consensus estimate of $4.39.

Netflix — Shares of the streaming giant fell about 4% after the company posted a small revenue miss. Netflix posted a quarterly revenue of $8.16 billion, slightly below the $8.18 billion expectation per Refinitiv. Its earnings per share did beat estimates. Netflix also said it delayed the broad rollout of its password-sharing crackdown.

Western Alliance, Zions Bancorporation — Shares of Western Alliance jumped nearly 21% on Wednesday after the regional bank said its deposits have been rebounding in April after declining 11% in the first quarter. Wedbush upgraded the beaten-down stock to outperform after Western Alliance's quarterly report, despite the bank's net income declining by more than 50% from the previous quarter. Other regional bank stocks gained during Wednesday's trading session. Zion rose 4.3% ahead of its earnings report after the bell. Shares of Regions Financial and Comerica added 1.5% and 2.9%, respectively.

United Airlines — The airline's shares rose 6% Wednesday. Although the airline announced a net loss for the first quarter, CEO Scott Kirby said the company expects a profit in the second quarter. United posted a loss of 63 cents per share, which is 10 cents