Stocks making the biggest moves midday: AppLovin, Roblox, Tapestry, Alibaba and more

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Check out the companies making headlines during midday trading Thursday.

Disney — Shares of the media giant jumped 4%. Late Wednesday, the company said it would raise the price on its ad-free streaming tier in October and that it would crack down on password sharing. Disney reported a 7.4% decline in subscriber count last quarter, however. It also recorded $2.65 billion in one-time charges and impairments, dragging the company to a rare quarterly net loss.

AppLovin — Shares popped more than 23%. On Wednesday, the game developer posted solid second-quarter results and shared stronger-than-expected revenue guidance for the current period. AppLovin said it anticipates revenues to range between $780 million and $800 million, ahead of the $741 million expected by analysts, per Refinitiv. Earnings for the recent quarter came in at 22 cents, versus the 7 cents anticipated.

Alibaba — U.S.-traded shares rose 5.7% on Thursday after the Chinese company beat analysts' expectations and posted its biggest year-over-year revenue growth since 2021. In the June quarter, the company posted revenue of 234.16 billion yuan versus 224.92 billion yuan expected, per Refinitiv.

Capri, Tapestry — Capri soared more than 56%, while luxury company Tapestry slid 15% during midday trading. The moves come after Thursday's announcement that Tapestry, which is behind the brands Coach and Kate Spade, is set to acquire Capri Holdings in a roughly $8.5 billion deal. Capri owns the Versace, Jimmy Choo and Michael Kors brands.

Wynn Resorts — Shares of the hotel and casino company climbed 3% after Wynn topped analysts' estimates in its second-quarter results. Late Wednesday, the company reported 91 cents in adjusted earnings per share on $1.60