Stocks making the biggest moves midday: Nordstrom, Salesforce, Ford and more

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Check out the companies making headlines in midday trading.

Nordstrom — Shares of the department store rallied a whopping 39% after the company reported better-than-expected profits and sales for the holiday quarter. The strong results also prompted Nordstrom to offer an optimistic outlook for the coming year. Meanwhile, the retailer called out improvements in its off-price business, Nordstrom Rack, amid a report that the company has been reviewing a potential spin-off.

Salesforce — Salesforce shares gained nearly 1% in midday trading after the company reportedan earnings beat. The software giant issued upbeat guidance after beating expectations in its fourth quarter on its top and bottom lines. The company posted adjusted earnings of 84 cents per share on revenue of $7.33 billion. Analysts expected a profit of 74 cents per share on revenue of $7.24 billion, according to Refinitiv.

Ford — Shares of Ford jumped 6.5% midday after the company said it plans to separate its electric vehicle and legacy businesses. The move is expected to streamline the company's growing electric vehicle business and maximize profits. The automaker plans to breakout financial results for both units, and its Ford+ business, by 2023.

SoFi — Shares of SoFi rose more than 4% in midday trading following its better-than-expected quarterly results. The fintech company reported a loss of 15 cents per share, versus analysts' prediction for a loss of 17 cents per share. SoFi also reported reaching all-time highs in members added, ending 2021 with about 3.5 million members, up 87% from the start of the year.

Ross — Shares of Ross Stores jumped nearly 7% midday following a fourth-quarter earnings beat. The off-price retail giant reported