Stocks making the biggest moves midday: Instacart, Steelcase, Klaviyo and more

cnbc.com:

Check out the companies making headlines in midday trading.

Instacart — Instacart shares fell more than 5% one day after going public on the Nasdaq. The grocery deliver company's stock debuted at $42 on Tuesday, 40% above its $30 offering price.

Steelcase — The furniture stock soared more than 26% after posting second-quarter earnings that topped Wall Street's expectations and offered strong full-year and third-quarter earnings guidance as more companies return to work. Excluding items, Steelcase posted earnings of 31 cents per share on revenue of $854.6 million.

Klaviyo — Klaviyo shares jumped more than 23% after the marketing automation company surged to $36.75 after its New York Stock Exchange initial public offering. The company priced 19.2 million shares late Tuesday at $30 per share, valuing the company at roughly $9 billion.

Bausch Health Companies — Bausch Health Companies surged more than 10% after Jefferies upgraded the drugmaker to a buy from hold, saying that a looming legal win could lead shares to more than double.

Stellantis — Shares rose about 3% after sales in Europe of brands such as Peugeot and Opel surged more than 6% in August. In the U.S., the Chrysler-Jeep parent warned that the United Auto Workers strike could result in more than 350 layoffs.

Pinterest — Shares added 4%, continuing their rally from Tuesday aftermanagement said it expects year-over-year revenue growth to accelerate after a slowdown the last two years. Citi and D.A. Davidson upgraded Pinterest to buy and increased their price targets on Wednesday to reflect the announcement.

General Mills — Shares of the Cheerios and Yoplait maker were down a fraction after beating analyst expectations for its fiscal first-quarter earnings results.