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Stocks Making the Biggest Moves Midday: Peloton, AstraZeneca, Boeing & More

Adam Glanzman | Bloomberg | Getty Images

Check out the companies making headlines in midday trading. 

Microsoft — Shares of the tech giant jumped about 1.5% as the company reportedly looks to buy Discord, according to Bloomberg. The chat app popular with video gamers is reportedly for sale for around $10 billion, according to people cited in Bloomberg's article.

Boeing — The industrial giant saw its stock dropping 2.9% during midday trading after the company reached a deal for a $5.28 billion two-year revolving credit agreement. Boeing was originally in the market for a $4 billion deal. The aerospace company still grapples with prolonged slowdown in commercial air travel triggered by the pandemic.

ViacomCBS — Shares of the media company fell 6.7% after ViacomCBS announced that it was selling $3 billion combined of common and preferred stock. The company said it would use the money for general corporate purposes, including streaming video. ViacomCBS's class B shares are still up nearly 150% year to date.

Peloton — The at-home fitness start-up's shares gained more than 2.6% after Bloomberg News reported a flurry of deal-making activities. Peloton recently bought three companies with technology and expertise in wearable devices, artificial intelligence, digital voice assistants, and interactive workout mats, Bloomberg reported.

Discovery — Shares of Discovery dropped more than 4% after UBS downgraded the media company's stock to sell from neutral. The Wall Street firm cited Discovery's valuation after the stock nearly quadrupled over the past 12 months.

Tencent — Tencent shares advanced more than 2% after the company announced a multiyear agreement with Warner Music. The companies also announced that they will launch a new joint venture record label. Separately, Tencent reported revenue of $1.28 billion for the fourth quarter, which was slightly shy of the the $1.29 billion analysts surveyed by FactSet were expecting.

AstraZeneca — Shares of the drugmaker fell 2.7% after a Data Safety Monitoring Board raised concern that AstraZeneca may have included outdated information in its initial release of Covid-19 vaccine trial data. The company said that the figures it published on Monday were based on data through February 17.

CNBC's Maggie Fitzgerald, Jesse Pound, Pippa Stevens, and Yun Li contributed reporting.

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