TSLA, MRO, WWE, UNH and more

Check out the companies making the biggest moves midday:

Tesla — Shares dropped 6% after the electric-vehicle maker reported total deliveries of 422,875 and total production of 440,808 for the first quarter of 2023. A mean of estimates showed that Wall Street expected deliveries of about 432,000 vehicles for the quarter, according to FactSet.

Energy stocks — OPEC’s surprise production cuts sent energy stocks higher across the board. Marathon Oil rallied more than 9%, and Halliburton gained over 7%. APA, ConocoPhillips and Hess all climbed roughly 8%.

UnitedHealth — Shares of the health insurance giant gained about 4% after the Center for Medicare & Medicaid Services on Friday announced updated payment rates. The agency said that Medicare Advantage plans would see an increase in revenue of more than 3% from 2023 to 2024. The advance notice of the payment scale had pegged the increase at just over 1%.

World Wrestling Entertainment — Shares of the professional wrestling entertainment company fell about 4.5% after news that it has agreed to merge with UFC to form a new publicly traded company controlled by Endeavor Group. The deal values WWE at $9.3 billion and UFC at $12.1 billion. Endeavor will own a 51% stake in the new combat sports and entertainment company, while WWE shareholders will have the remaining 49%. Shares of Endeavor dropped 7%.

Marqeta — The stock shed 2.8% after being downgraded by Morgan Stanley to equal weight from overweight. The Wall Street firm said Marqueta is facing a “multitude of headwinds” without an ironed-out renewal deal with Block.

Extra Space Storage, Life Storage — Shares of Extra Space Storage fell 5% after the company said it would acquire Life Storage in an all-stock transaction for $145.82 per share, an 11.2% premium to where Life Storage closed Friday. Shares of Life Storage shares rose 3%.

UBS — U.S.-listed shares of the Swiss bank dipped 2.8% after Switzerland’s federal prosecutor opened an investigation into UBS’s takeover of Credit Suisse. There are also reports in Swiss media that up to 30% of UBS staff could lose their jobs due to the takeover.

First Solar — Shares shed 3% following a downgrade by Morgan Stanley to underweight from equal weight. The Wall Street firm said First Solar is one of the biggest direct beneficiaries of the Inflation Reduction Act, but said the stock has appreciated 196% since the legislation was announced.

Macy’s — The retailer popped 5.6% on the back of an upgrade to overweight from neutral by JPMorgan. The firm said the company is nearing a financial “inflection point.”

SL Green Realty — Shares of the real estate investment trust (REIT) rose nearly 2% after BMO upgraded the name to outperform. The firm said it believes the third-most heavily shorted U.S. REIT is oversold given its historically low valuation and several catalysts are “on the horizon.”

Teck Resources — U.S.-listed shares of the Canada-based mining company surged 15% after Teck Resources rejected an unsolicited $22.5 billion bid from Glencore, a Swiss mining and trading company.

Apellis Pharmaceuticals — The stock climbed 14% following a Bloomberg report that Apellis Pharmaceuticals is attracting takeover interest.

Ovintiv – The oil and natural gas exploration and production company saw shares jump 10% after announcing it will acquire certain Midland Basin assets from EnCap Investments for about $4.3 billion. Ovintiv also raised its first-quarter production guidance and boosted its full-year output forecast.

ADP, Paychex — Shares of the payroll companies dropped after Bank of America downgraded both firms to underperform from neutral, saying the two stocks tend to lag as unemployment starts to rise. ADP shares fell 2.8%, while Paychex shares declined about 3%.

Atlas Energy Solutions — The stock, which began trading publicly last month, gained more than 3% after Barclays initiated coverage with an overweight rating. Its price target of $25 implies Atlas Energy Solutions could rally 46.8% over the next 12 months from where it closed Friday.

— CNBC’s Alex Harring, Yun Li, Jesse Pound, Tanaya Macheel, Sarah Min and Michael Bloom contributed reporting.