Stocks making the biggest moves midday: Microsoft, Chipotle, Boeing, First Republic Bank and more

cnbc.com:

Check out the companies making the biggest moves midday:

Microsoft — Shares of tech giant Microsoft gained more than 8% Wednesday after a better-than-expected earnings report a day earlier. Analysts have added to bullish sentiment on the stock as Microsoft delves deeper into artificial intelligence investments and integration with Azure.

Alphabet — Shares of the Google parent rose about 1% after reporting earnings that beat expectations. The company earned $1.17 per share on $69.79 billion in revenue, while analysts polled by Refinitiv expected it to earn $1.07 per share on revenue of $68.9 billion. The company also announced a $70 billion share buyback.

Amazon — Positive tech earnings also helped lift Amazon shares 3.9% ahead of the e-commerce giant's earnings report, due Thursday. Amazon also began layoffs in its cloud computing and human resources divisions Wednesday. The cuts were previously announced.

Chipotle Mexican Grill — Shares of the Mexican fast food chain soared nearly 15% to hit an all-time high after the company reported quarterly earnings and revenue that topped analysts' expectations. The strong results were fueled by robust same-store sales growth. CEO Brian Niccol also said the chain has demonstrated its pricing power.

Boeing — Shares rose 3% after the company posted its latest quarterly results and said it would increase production of 737 Max planes later this year despite a production issue. Boeing reported an adjusted loss of $1.27 per share and $17.92 billion in revenue, while analysts anticipated a loss per share of $1.07 on $17.57 billion in revenue, according to Refinitiv.

Activision Blizzard — Shares slid 11% after a UK regulator blocked Microsoft's purchase of the video game publisher.