Stocks making the biggest moves midday: Apple, Tesla, AbbVie, Delta Air Lines and more

Stocks making the biggest moves midday: Apple, Tesla, AbbVie, Delta Air Lines and more
Source: CNBC

Apple -- Shares rebounded more than 5% on Wednesday, after several days of selling pressure on the iPhone maker. Apple manufactures much of its products in China, which has been a key worry for investors in recent days in light of President Donald Trump's 104% tariff on Beijing that took effect on Wednesday.

Walmart -- The retail stock gained 5% after chief financial officer John Rainey said in an investor presentation that Walmart emerges with greater share when it leans into periods of economic uncertainty. The company scrapped its first-quarter operating guidance, but left its full-year guidance unchanged.

Capri -- Shares rallied more than 10.3% after The Wall Street Journal reported that a deal for Capri to sell Versace to Prada is at risk of collapsing.

Delta Air Lines -- Shares popped more than 7% even after the company pulled its 2025 forecast and CEO Ed Bastian said tariffs are hurting bookings.

Trump Media & Technology Group -- Shares of President Donald Trump's social media company advanced 8%. Earlier on Wednesday, Trump said in a Truth Social post that "THIS IS A GREAT TIME TO BUY!!! DJT."

Citigroup, Wells Fargo, JPMorgan Chase -- Bank stocks broadly declined during another volatile day in financial markets as worries about a possible recession persisted. Shares of Citigroup and Wells Fargo fell more than 3% each. JPMorgan Chase dipped 0.6%.

Tesla -- Elon Musk's electric vehicle company climbed more than 5%, recovering some of its recent steep losses. The stock is down more than 17% the past week amid rising trade tensions with China and major U.S. trading partners.

Eli Lilly, Pfizer, AbbVie -- Shares of key pharmaceutical giants tumbled after President Donald Trump said Tuesday evening that the U.S. is going to announce "very shortly a major tariff on pharmaceuticals." AbbVie and Eli Lilly shares both dropped more than 4%, while Pfizer fell 3%.

-- CNBC's Jesse Pound, Michelle Fox, Yun Li and Sean Conlon contributed reporting