Midday movers: General Motors, Yahoo & More

Jason Alden | Bloomberg | Getty Images

Take a look at some of Monday's midday movers:

Hertz Global Holdings - Shares of the car-rental company gained 5 percent after The Financial Times reported Hertz planned to spin off its construction equipment rental division, citing people with knowledge of the matter.

Yahoo - The online-search engine jumped 4 percent after Chinese e-commerce site Alibaba said it would begin the process of launching an initial public offering in the U.S. later this year. Yahoo owns a 24 percent stake in Alibaba.

General Motors - Shares of the auto manufacturer ticked slightly higher after GM said it would incur a $300 million first-quarter charge to over costs associated with an ignition-switch problem and other recall costs.

JA Solar Holdings - The Chinese maker of solar cells gained 5 percent after reporting fourth-quarter results that topped earnings and revenue estimates.

First Solar - Shares jumped 5.1 percent after the maker of solar panels said it had finished a Japanese power plant that would generate 1,400 megawatt-hours of clean electricity a year for the nation.

Biogen Idec - Shares jumped 4.1 percent after the drug developer was added to the S&P 100 mega-cap index.

Verisign - Shares dropped 7.4 percent after an analyst at Cowen & Co. cut his rating on the manager of a directory of Internet addresses.

(Read More: See CNBC's Market Insider Blog)

—By CNBC's Kate Gibson.

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