Stocks making the biggest moves midday: Carvana, Goldman Sachs, AT&T and more

cnbc.com:

Check out the companies making headlines in midday trading.

Carvana — Shares soared nearly 30% after the used-car retailer reached a deal that will reduce its total outstanding debt more than $1.2 billion. The agreement will eliminate over 85% of its 2025 and 2027 unsecured note maturities and lower its required cash interest expense $430 million a year for the next two years.

Goldman Sachs — The banking titan advanced 1.6% despite missing expectations of analysts polled by Refinitiv for earnings and revenue. Goldman said the profit miss was tied to write-downs in the commercial real estate business and the sale of lending unit GreenSky.

Joby Aviation — Shares sank more than 13% after JPMorgan downgraded the electric aircraft maker to underweight, calling its recent stock outperformance «largely overblown.»

Omnicom — Shares tumbled 10.7% after the marketing and communications company missed revenue expectations, reporting $3.61 billion in the second quarter against a forecast of $3.67 billion from analysts polled by FactSet. The company beat expectations for earnings expectations by one cent at $1.81 per share.

Elevance Health — The stock rose 6% after Elevance Health beat analysts' expectations on the top and bottom lines in its second-quarter results. The health insurance provider reported adjusted earnings of $9.04 per share, better than consensus estimates of $8.78 per share, according to FactSet. Revenue came in at $43.38 billion, compared with the $41.64 billion forecast. Additionally, Elevance said medical enrollment rose by 938,000 members on a year-over-year basis. It also raised its full-year guidance, which also beat expectations.

Northern Trust — Northern Trust jumped more than 14% after reporting earnings.