Take a look at some of Tuesday's midday movers:
General Motors, Ford and Toyota moved higher after reporting better than expected auto sales for May. Ford also said its F-Series pickups fell 4.3 percent, the line's biggest decline in three years.
Read MoreAutomakers report strong uptick in May US sales
Fannie Mae and Freddie Mac rose on news Carl Icahn of both from Fairholme Funds.
Apple rose as investors reacted to the news coming from the technology firm's Worldwide Developer Conference on Monday.
Skyworks Solutions hit a 14-year high after the maker of analog semiconductors raised its third-quarter earnings and revenue forecast due to rising demand.
Clovis Oncology fell for the second consecutive session following news that the firm's lung cancer drug caused patients in an early stage trial to experience high blood sugar levels. Citigroup downgraded the stock to "neutral" from "buy."
Prosensa moved lower. The FDA outlined a regulatory path for the accelerated approval of the biotechnology firm's lead drug to treat Duchenne muscular dystrophy.
Devon Energy rose after Wells Fargo upgraded the oil and gas company to "outperform" and boosted the price target, citing improving production visibility and an attractive valuation.
J.M. Smucker gained ground after hiking coffee prices for the first time in three years because of soaring green coffee costs.
Interdigital soared after the company upped its revenue guidance for the second quarter.
Acadia Healthcare climbed after the operator of psychiatric and substance abuse clinics said it would buy Partnerships in Care for about $660 million in cash, in an effort to enter the UK market.
Actavis fell after the city of Chicago filed a suit against it, Endo Health Solutions, Janssen Pharmaceuticals (a unit of Johnson & Johnson), Purdue Pharma and Cephalon (a unit of Teva Pharmaceuticals). The city accused the narcotics manufacturers of concealing health risks associated with a class of potent painkillers in order to boost profits. This case followed a suit by two California counties last month.
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Advanced Energy Industries plummeted after Needham cut the rating on the power company to "hold" from "buy" on news that the CEO would step down.
G-III Apparel rose after the apparel designer and manufacturer reported a surprise first-quarter profit. As a result, the company raised its revenue forecast for the year.
Gladstone Commercial lost ground after the real estate investment trust announced a common stock offering of 1.4 million shares at $17 a share.
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PHH moved lower following news that the company will sell its auto fleet leasing unit to Element for $1.4 billion in cash.
—By CNBC's Rich Fisherman.