Stocks making the biggest moves midday: FedEx, Adobe, Boeing and more

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Check out the companies making headlines in midday trading.

FedEx – Shares of the delivery giant slid about 22% after the company preannounced disappointing results for the recent quarter, citing weakness in global shipment volumes, and several Wall Street analysts downgraded the stock. CEO Raj Subramaniam said he expects the economy to enter a «worldwide recession» on CNBC's «Mad Money» Thursday. FedEx dragged its peers UPS and XPO Logistics down about 4.8% and 6.8%, respectively.

International Paper Co. – Shares dropped more than 11% after Jefferies downgraded the stock from hold to underperforming as the paper services industry struggles with a glut of containerboard and sliding demand.

Uber – The ride-sharing service saw shares fall about 4% after it said it's investigating a cybersecurity incident. A hacker had reportedly gained control of Uber's internal systems after compromising an employee's Slack account, according to the New York Times.

General Electric – Shares of the industrial conglomerate sank more than 4% after its chief financial officer said Thursday the company is still dealing with supply chain issues, which is affecting its ability to deliver products to its customers. That, in turn, is putting pressure on GE's cash flow.

NCR – The technology provider for banks, retailers and restaurants saw shares hit a new 52-week low today after falling just under 23%. NCR's board of directors announced the company would split into two independent publicly traded companies.

Extra Space Storage – Shares fell about 2%. Earlier in the day, the company announced a $590 million deal to acquire rival Storage Express.

Apple – The technology giant was down around 2% amid Friday's sell-off, even as KeyBank