Stocks making the biggest moves midday: First Solar, News Corp, Charles Schwab, Twilio and more

cnbc.com:

In this article

Check out the companies making the biggest moves midday:

First Solar — Shares soared 22% after the solar company announced it is acquiring Evolar AB for up to $80 million. First Solar said the acquisition of the European company, which develops thin film used in solar panels, should accelerate its development of next-generation photovoltaic technology.

News Corp — The media company's stock popped 6% after News Corp reported an earnings and revenue beat for its fiscal third quarter after the bell Thursday, according to FactSet. The company also said it expects to save an annualized $160 million by the end of 2023 through its previously announced job cuts.

Icahn Enterprises — Carl Icahn's holding company rebounded 4%, cutting this week's losses to 12%. The stock has been on a wild ride after notable short seller Hindenburg Research took a short position, alleging «inflated» asset valuations and other reasons. Separately, Icahn Enterprises said its board approved a $500 million buyback authorization. The company also recently declared a $2 per share quarterly dividend.

JD.com — The Chinese e-commerce company's U.S.-listed shares slid 5.6%, a day after gaining 7.2% on an earnings beat. JD.com also announced Thursday CEO Xu Lei will step down in June for «personal reasons» and will be replaced by CFO Sandy Ran Xu.

Charles Schwab — Shares of the brokerage firm rose more than 2% on Friday after the company reported that total client assets rose 1% in April. CFO Peter Crawford said in a press release that cash sorting activity by customers has continued to decline in May.

Twilio — Shares dropped nearly 5%. The move added to the decline that began after the communications software developer on late Tuesday