Check out the companies making the biggest moves in midday trading: Peloton — The connected fitness company, known for its at-home Bike and Tread products, announced a new commercial series for high-traffic gyms on Monday. Shares gained 4.5%. Meta — Shares of the Facebook parent rose more than 2% after Reuters reported that Meta anticipates laying off 20% or more of its workforce in order to offset its artificial intelligence spending plans. Regarding Reuters’ reporting, a Meta spokesperson told CNBC , “This is a speculative report about theoretical approaches.” Nvidia — The chip giant’s stock advanced about 2% ahead of the company’s annual GTC conference , where CEO Jensen Huang is scheduled to deliver a keynote address at 2 p.m. ET. Analysts expect Nvidia to offer fresh insight into the durability of the AI spending boom and the chipmaker’s next generation of processors. Fertilizer companies — Shares of fertilizer companies slid in midday trading. Treasury Secretary Scott Bessent told CNBC that the U.S. is permitting Iranian oil tankers to travel through the Strait of Hormuz. The global supply chain for fertilizers also travels through the waterway, and companies in that sector have seen shares surge amid the Iran War. CF Industries and Mosaic lost more than 4%, while Nutrien slipped 5%. Upstart — Shares of the AI lending company jumped more than 6% after BTIG upgraded the stock to buy, with a $43 price target. Last week, Upstart applied for a national bank charter, and BTIG analysts anticipate a charter could reduce the company’s funding risk and materially improve its economics, lowering transaction volume costs and potentially boosting annual earnings per share by around 60%. Dollar Tree — The discount retailer rose more than 4%, despite posting mixed fourth-quarter results and warning that sales growth could slow in the year ahead. Dollar Tree expects it could attract new customers seeking value amid rising oil prices and a tighter labor market. However, those same conditions are prompting the company to be cautious in its outlook. The retailer expects sales at stores open at least a year to rise between 3% and 4% in 2026, down from a 5.3% gain in fiscal 2025. Nebius Group — The artificial intelligence infrastructure company rallied 13% after announcing a deal with Meta. As part of the agreement, Nebius will “provide $12 billion of dedicated capacity across multiple locations,” it said in a statement. This comes after the firm announced another partnership with Nvidia last week. Micron Technology — The chipmaker rose 5% on plans to build a second manufacturing site in Taiwan. The new site will “support Micron’s efforts to expand supply of leading-edge DRAM products,” Micron said in a statement. Strategy , Coinbase , Circle Internet Group — The crypto-linked stocks traded higher as bitcoin gained to start the week. Strategy and Coinbase each advanced around 4%, while Circle climbed about 8%. National Storage Affiliates — Shares soared more than 30% after the company agreed to be acquired by Public Storage for roughly $10.5 billion in an all-stock deal. The transaction is expected to close in the third quarter. Public Storage traded about 1% lower. — CNBC’s Darla Mercado, Michelle Fox, Yun Li and Nick Wells contributed to this report.
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