Stocks making the biggest moves midday: Lowe's, 3M, First Horizon, Nio and more
The Lowe's logo is displayed on the front of the store near Bloomsburg.

Check out the companies making the biggest moves midday:

Lowe's — Shares fell 5.56% after the home improvement retailer's fiscal fourth-quarter sales fell short of Wall Street's expectations, with revenue coming in at $22.45 billion versus the $22.69 billion estimate from Refinitiv. While it topped EPS estimates, Lowe's gave sales guidance for 2023 that missed expectations.

3M — The stock gained 2.29% following 3M's announcement that Department of Defense records show the vast majority of the claimants in the Combat Arms earplug litigation against the company have no hearing impairment.

First Horizon — Shares sank 10.62% after its acquisition by Toronto-Dominion Bank was delayed. TD informed First Horizon that it doesn't expect the necessary regulatory approvals to be received in time to complete the merger by May 27, according to a filing with the Securities and Exchange Commission. TD said it could not provide a new projected closing at this time, but said in an email to Bloomberg that it was committed to the transaction.

Sarepta Therapeutics — The biotech stock surged 19.24% after Morgan Stanley upgraded it to overweight from equal weight. The Wall Street firm said Sarepta Therapeutics' path for its investigational gene therapy for Duchenne muscular dystrophy (DMD), SRP-9001, now appears "de-risked."

Rivian Automotive — Rivian's stock plummeted 18.34% after the car manufacturer posted mixed fourth-quarter results. Rivian also shared an electric vehicle production outlook that fell short of analysts' expectations.

Nio — Shares of the Chinese electric vehicle company dropped 5.96% after the firm reported a widening net loss in the fourth quarter. The stock has fallen more than 8% year to date, following a nearly 70% loss in 2022.

Monster Beverage — The beverage producer dropped 2.53% after missing expectations of analysts polled by FactSet for fourth-quarter earnings. Monster posted 57 cents in per-share earnings, which is 6 cents below the consensus estimate. Quarterly revenue came in at $1.51 billion, below the $1.6 billion expected. Additionally, the company announced a two-to-one stock split.

Marqeta — Shares sank 22.41% after being downgraded by JPMorgan to neutral from overweight. The firm cited uncertainty over the company's growth for its move to the sidelines.

Novavax — The vaccine developer's stock price dropped 25.92% after it said on Tuesday that "substantial doubt exists regarding our ability to operate as a going concern" through the next year.

First Solar — Shares of First Solar gained 15.69% after the solar company issued full-year guidance on Tuesday that came out ahead of expectations on per-share earnings and revenue. First Solar reported a fourth-quarter loss of 7 cents per share compared with a 17 cent per-share loss expected by analysts surveyed by FactSet. The company's revenue was in line with analysts' expectations of $1 billion.

AMC Entertainment — Shares of the movie-theater chain dropped 7.98% a day after AMC reported a wider-than-expected loss for the fourth quarter. AMC lost 26 cents per share, compared with the 21 cents expected by analysts according to Refinitiv, even though revenue came in ahead of estimates.

Warby Parker — The stock lost 5.76% after being downgraded to neutral from buy by Citi, who said the eyeglass company's growth outlook was "too blurry."

Red Robin Gourmet Burgers — The restaurant chain's stock soared 27.14%. Benchmark upgraded Red Robin to buy from hold, saying a turnaround story is underway. The company posted its latest quarterly results after the bell Tuesday, with an adjusted fourth-quarter loss of $1.35 per share compared to analysts' estimate of a per-share loss of 62 cents, according to FactSet.

Ambarella —The semiconductor stock shed 11.49% after being downgraded to neutral from buy by Roth MKM. The Wall Street firm cited "inventory digestion" for the call. Ambarella gave first-quarter guidance that missed analysts' expectations on Tuesday, according to FactSet.

— CNBC's Alex Harring, Jesse Pound, Sam Subin, Pia Singh and Yun Li contributed reporting.