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Stocks making the biggest moves midday: Horizon Therapeutics, Capital One, RH, Home Depot and more


Horizon Therapeutics global headquarters in Dublin, Ireland.Nurphoto | Nurphoto | Getty ImagesCheck out the companies making the biggest moves midday:Horizon Therapeutics — Shares of the biotech firm fell more than 15% after the Federal Trade Commission sued to block the company’s acquisition by biopharmaceutical giant Amgen. The deal, worth $27.8 billion, was meant to strengthen Amgen’s drug portfolio as it faces several patent expirations over the next decade for key treatments.related investing newsVodafone — U.S.-listed shares of the British telecommunications company dropped 7% after Vodafone announced plans to cut 11,000 jobs. CEO Margherita Della Valle said the company’s performance “has not been good enough” and Vodafone “must change.”Western Alliance Bancorp — Western Alliance shares jumped 3.6% after Bank of America reinstated coverage on the stock with a buy rating. Bank of America said it is confident in the regional bank’s business model. The firm said that “WAL does not share a ton in terms of business model and balance sheet characteristics relative to the three failed banks,” noting its above-average ratio of insured deposits to total deposits. Shares are down 46% year to date.Capital One — Capital One’s stock gained 2.4% a day after securities filings revealed a new stake in the financial institution from Warren Buffett’s Berkshire Hathaway worth more than $950 million. Regulatory documents also showed Michael Burry’s Scion Asset Management picked up some shares during the first quarter.RH — Shares of the luxury furniture retailer slid 7.5%. A regulatory filing posted late Monday showed that Warren Buffett’s Berkshire Hathaway dumped its stake last quarter. The Omaha-based conglomerate had owned 2.36 million shares of RH at the end of 2022.Alphabet — The stock added nearly 3% in midday trading. On Monday, Bill Ackman’s Pershing Square Capital Management revealed in a securities filing that it opened a new position in Alphabet totaling nearly $1.1 billion during the first quarter. Dan Loeb’s Third Point also built a sizeable stake in the tech giant in the first quarter. Home Depot, Lowe’s — Shares of home improvement retailers Home Depot and Lowe’s lost 1.4% and 1% in midday trading Tuesday. Home Depot reported the biggest revenue miss in more than 20 years earlier in the day, posting $37.26 billion while analysts forecasted by Refinitiv forecasted $38.28 billion. Lowe’s will report quarterly results on May 23.Expedia — The travel booking site operator saw its shares rise 2.7% after Gordon Haskett upgraded the stock to buy from hold. The firm said concerns about its tech stack migration are overblown and that it s …

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