Stocks making the biggest moves midday: Uber, Chegg, Dell, PacWest, SoFi & more

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Check out the companies making headlines in midday trading.

Uber — Shares of the ride-hailing giant jumped more than 8% after the company reported first-quarter revenue that beat analysts' expectations. Revenue for the quarter was up 29% year over year. CEO Dara Khosrowshahi said Uber is off to a «strong start» for the year.

Chegg — The education technology company plummeted more than 48% after the company said ChatGPT was hurting its growth. Chegg beat analyst expectations for the first-quarter, while offering underwhelming current-quarter guidance.

Icahn Enterprises — Carl Icahn's conglomerate saw its shares fall more than 16% after notable short seller Hindenburg Research took a short position against the company, alleging «inflated» asset valuations, among other reasons.

Dupont de Nemours — Shares dropped 8% following the company's weak guidance for the second quarter. Its adjusted earnings per share forecast of 84 cents fell short of the 88 cents expected by analysts polled by StreetAccount, while its revenue guidance of $3.02 billion was less than the $3.10 billion expected. Dupont cited a delay in the electronics market's recovery.

Arista Networks — The cloud network stock dropped 15.1% after the company said it expects cooling spending and slowing growth from «cloud titans.» Still, the company did beat expectations for the quarter and provide strong guidance.

NXP Semiconductors — Shares of the chipmaker added more than 2% after the company beat analysts' expectations for first-quarter revenue and operating income. Revenue guidance for the second quarter was better than anticipated as well.

Dell Technologies — Shares added 1% after being upgraded to overweight from equal weight by Morgan Stanley.