Walmart, Taiwan Semiconductor, Netflix, Carnival and more

Check out the companies making the biggest moves midday.

Walmart — Shares of retailer Walmart jumped more than 7% after reporting quarterly earnings that beat Wall Street’s expectations and raising its forward guidance. The company reported adjusted earnings per share of $1.50 on $152.81 billion in revenue, where analysts expected adjusted earnings per share of $1.32 and $147.75 billion in revenue, per Refinitiv.

Retail stocks — Retail stocks rose following Walmart and Home Depot‘s stronger-than-expected financial reports for the third quarter. Home Depot rose 1%, while Target shares rallied more than 3%. Kohl’s and Bed Bath & Beyond added roughly 3%. Macy’s and Nordstrom advanced about 5% and 3%, respectively.

Taiwan Semiconductor — Shares of the Taiwanese chipmaker soared more than 12% after Warren Buffett’s Berkshire Hathaway built a $4 billion new stake in the company. Berkshire added more than 60 million shares of the Taiwanese chipmaker’s American depositary receipts, by the end of the third quarter, making Taiwan Semi the conglomerate’s 10th biggest holding at the end of September.

Paramount Global — Shares of the media company jumped more than 9% after a filing revealed that Berkshire Hathaway increased its holding to $1.7 billion at the end of the third quarter. Paramount is still down more than 30% this year as it suffered from cord cutting and a drop in advertising revenue.

Louisiana-Pacific — The lumber maker saw its stock jump more than 10% after Omaha-based Berkshire took new positions in the company last quarter. The conglomerate’s stake was worth $297 million at the end of September.

Bath & Body Works — Bath and Body Works rose 4% after an SEC filing revealed that Dan Loeb’s Third Point bought $265 million in the retailer’s stock in the third quarter.

Netflix — The streaming giant added 3.8% after Bank of America double-upgraded the stock to a buy from underperform. He said the new ad tier and crackdown on password sharing could help the stock’s value increase 23.6%.

Fulcrum Therapeutics — Shares of the biotechnology company gained 8.6% after Goldman Sachs initiated coverage of the stock as a buy and said it could see an upside of 61.5% if its main experimental drugs kept performing well.

Vodafone — Vodafone’s stock dropped 6.8% after the company cut its earnings guidance and cash flow forecast. The mobile operator cited a challenging economic environment.

Getty Images — Getty Images’ stock plummeted 12% after revenue for the recent quarter missed Wall Street’s expectations.

Albemarle — Shares of the lithium miner dropped 6%. Rumors that an unnamed Chinese cathode manufacturer was cutting its production targets was putting pressure on U.S. lithium stocks, according to FactSet.

Signature Bank — Shares of the crypto bank jumped more than 10% after Signature reported minimal exposure to FTX and any potential destruction that could come from its collapse. Signature said it has only a deposit relationship with the exchange — it does not lend crypto or invest in it on behalf of clients — representing less than 0.1% of its overall deposits.

Mobileye Global — The autonomous vehicle systems software company rallied 4% after Baird initiated coverage of the stock with an outperform rating. Analyst Luke Junk called Mobileye a market leader, writing, “Net, we recommend purchase/would lean into any volatility, for this premier franchise/longer-term optionality.”

Sunnova Energy — Shares of solar company rose 7.5% after Deutsche Bank initiated coverage of Sunnova Energy, First Solar and Enphase Energy with buy ratings. First Solar was up 3.2%, and Enphase Energy rose 2%.

Capital One Financial — The regional bank’s stock sank 5% after it was downgraded by Bank of America to neutral from buy. Analyst Mihir Bhatia also cut his price target to $113 per share from $124.

Carnival — Shares of the cruise operator rose 6% after another report hinted inflation could be slowing. Royal Caribbean Cruises and Norwegian Cruise Line were also higher, up 4.9% and 2.5% respectively.

Chinese stocks — Chinese companies listed on the U.S. stock market rose following President Joe Biden’s meeting with China President Xi Jinping and despite disappointing retail sales data. Tencent Music Entertainment, which also posted beats on the top and bottom lines, soared about 30%. Alibaba rose roughly 12%. Pinduoduo and Baidu both rallied about 10%, and JD.com rose nearly 8%.

— CNBC’s Yun Li, Carmen Reinicke, Alex Harring, Samantha Subin and Tanaya Macheel contributed reporting.