Stocks making the biggest moves midday: Walmart, Netflix, Alibaba, Nvidia & more

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Check out the companies making headlines in midday trading.

Walmart — Shares of the big box retailer rose slightly after the company reported an earnings and revenue beat for the fiscal first quarter. Walmart also raised its guidance for the full year. However, its adjusted earnings guidance for the fiscal second quarter came in lower than expectations.

Netflix – Netflix shares jumped 9.8% a day after the streaming giant held its upfront presentation to advertisers, that many on Wall Street viewed optimistically. The media company said its new ad-supported tier has nearly 5 million monthly active users.

Bath & Body Works — The retailer's shares jumped more than 9% after its fiscal first quarter earnings topped expectations. The company also raised its guidance for the full year. Bath & Body Works reported adjusted earnings of 33 cents per share, while analysts surveyed by Refinitiv had estimated 26 cents earnings per share. The company's $1.4 billion in revenue came in-line with estimates. 

FedEx — Shares of the shipping giant climbed 1.7% in midday trading. Deutsche Bank raised its price target on FedEx stock a day earlier and reiterated a buy rating, citing the potential for the company's June 20 quarterly results to help lift shares on strong forward guidance.

Alibaba — The Chinese e-commerce giant's stock slipped 3.5% after a mixed earnings report for the recent quarter. Revenue fell short of Wall Street's expectations. Alibaba also said it plans to spin-off its cloud division.

Procter & Gamble — Shares declined 2% after Truist downgraded shares to hold from buy. Truist said that, despite P&G's success in refocusing its product portfolio and reducing costs, it believes the stock's valuation «fully