Stocks making the biggest moves midday: Walmart, CVS Health, Wolfspeed and more

cnbc.com:

Check out the companies making headlines during midday trading Thursday.

Cisco Systems — Shares of the computer networking giant added 4% after reporting earnings postmarket Wednesday that beat Wall Street's expectations. Adjusted earnings per share for its fiscal fourth quarter came in at $1.14, topping the $1.06 expected from analysts polled by Refinitiv. Revenue was $15.2 billion, compared with the $15.05 billion expected.

Walmart — Shares of the big-box retailer fell nearly 2% even after Walmart topped estimates for the recent quarter and lifted its full-year forecast due to strong grocery and e-commerce growth. The company reported adjusted earnings of $1.84 a share, ahead of the $1.71 expected by analysts polled by Refinitiv. Revenue came in at $161.63 billion, topping an estimate of $160.27 billion.

Hawaiian Electric — The utility stock tumbled 15% and hit a new 52-week low as investors remained concerned about the company's potential liability in Maui's wildfires. The Wall Street Journal reported late Wednesday that Hawaiian Electric is in talks with firms that specialize in restructuring. 

CVS Health — Shares of the pharmacy giant slid more than 9% after Blue Shield of California ended its pharmacy benefits partnership with CVS Caremark and announced it will instead join forces with Mark Cuban's Cost Plus Drugs and Amazon Pharmacy in a move to help members save on drug costs.

Coherent — The semiconductor stock gained 3.9% after a nearly 30% drop Wednesday. While Coherent beat expectations when reporting fiscal fourth-quarter earnings earlier in the week, the company's guidance for current-quarter and full-year earnings and revenue came in below what was expected by analysts surveyed by FactSet. Investment firm