Stocks making the biggest moves midday: Under Armour, Zillow, Affirm and more

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Check out the companies making headlines in midday trading.

Under Armour — The sports equipment company's shares dropped about 10% as lingering supply chain constraints clouded the firm's outlook and overshadowed its recent performance. The company also warned that heightened freight expenses will weigh on profits in the coming months. The sell-off in the stock came even as the retailer reported fourth-quarter earnings and sales ahead of analysts' estimates.

Newell Brands — Shares of the household products maker jumped more than 12% after the company reported better-than-expected earnings and revenue for its most recent quarter and issued an upbeat earnings forecast. Newell brought in an adjusted 42 cents per share for its latest quarter, beating analysts' estimates by 10 cents.

Affirm — Shares of Affirm plunged more than 17% after Jefferies downgraded the «buy now, pay later» stock. The firm said credit normalization is will lead to increased losses and rising interest rates will pressure margins.

Monolithic Power Systems — The semiconductor company's shares rose about 7.5% after Needham upgraded the stock to a buy, saying it sees a more favorable risk/reward profile following a recent decline in share price. Needham's $530 price target on the stock implies about 30% upside.

Zillow Group — Shares of the digital real estate platform soared nearly 18% in midday trading after reporting a smaller-than-expected loss for the fourth quarter. Zillow also beat revenue expectations. Those results came despite an $881 million loss on its now-shuttered home-flipping business.

Expedia — The travel services company's shares added about 1% after quarterly earnings beat analysts' estimates, while revenue for the period