Check out the companies making headlines in midday trading:
TD Ameritrade — Shares of the brokerage surged 16.9% after sources told CNBC that Charles Schwab is in talks to buy the company. A deal between the two would bring total assets under management to more than $5 trillion. Shares of Charles Schwab gained 7.3% on the news, while competitor E*Trade fell 9.3%.
L Brands — L Brands shares jumped 10.1% after the Victoria's Secret parent company delivered quarterly results that largely met expectations. L Brands posted an adjusted profit of 2 cents per share on revenue of $2.68 billion, matching Refinitiv estimates. The stock was already down nearly 40% heading into its earnings release.
Anaplan — Shares of the software company surged 8% following Anaplan's third quarter results. The company reported a smaller-than-expected loss of 8 cents per share, and revenue also came in ahead of estimates. Shares have more than doubled so far this year.
Applied Materials, Lam Research — Shares of the chip companies fell 5.3% and 3.7% respectively after UBS downgraded each stock to a sell rating. The firm said that run-rate is peaking and that spending across the space looks set for a pull-back.
Tiffany – The jewelry stock rose 2.6% after French luxury group LVMH raised its offer to buy Tiffany to nearly $16 billion. LVMH was reportedly able to convince Tiffany to provide access to its books, a key milestone in LVMH's bid to acquire Tiffany.
Exxon Mobil – The energy company's stock was up 2.4% after Reuters reported that Exxon plans to divest as much as $25 billion of its assets in Europe, Asia and Africa.
La-Z-Boy – Shares of LaZBoy dropped 14.6% after the company missed Wall Street's expectations for its second-quarter earnings and revenue. LaZBoy's same store sales increased by 3.5% during the quarter, which Keybanc noted was concerning due to increased competition.
BJ's Wholesale – The warehouse chain's stock dropped 8.1% after BJ's reported worse-than-expected third-quarter revenue, although earnings came in just above what analysts anticipated according to FactSet.
Advanced Micro Devices – Shares of AMD fell 3.6% after Northland Capital Markets downgraded the stock to market perform from outperform. The analyst expects AMD to take profits in 2020, which the firm expects will be a peak growth year for the company. Programming Note: For more on Advanced Micro Devices, watch CEO Lisa Su's interview on Mad Money tonight at 6 p.m. ET.
– CNBC's Pippa Stevens and Fred Imbert contributed to this report.