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Stocks making the biggest moves midday: Capital One, Disney, Cheesecake Factory, Expedia and more

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Pedestrians wearing protective masks wait to enter a Disney store in San Francisco, California, on Wednesday, Dec. 23, 2020.
David Paul Morris | Bloomberg | Getty Images

Check out the companies making headlines in midday trading.

Virgin Galactic — Shares of Virgin Galactic were down 17% in midday trading after the space company filed to sell up to $500 million in common stock. The swoon came despite a successful test flight over the weekend with founder Sir Richard Branson. The stock, which trades under ticker SPCE, was halted for volatility earlier in the session.

Cheesecake Factory — Shares of the restaurant chain jumped 4% after Raymond James upgraded its shares to outperform from market perform and said the market is underestimating the comeback for full-service restaurants. Cheesecake Factory particularly saw a boost in recent months from its footprint states that were slower to reopen, Raymond James' Brian Vaccaro said.

Didi Global, Tencent Music — Chinese stocks extended their sell-off with Didi falling more than 7% and Tencent falling more than 4% amid intensifying regulatory pressure. China has vowed to crack down on domestic companies that list on U.S. exchanges and it will also tighten restrictions on cross-border data flows and security. The Wall Street Journal reported that ByteDance, the Chinese owner of TikTok, scrubbed plans for an offshore listing.

Financial firms — Companies in the financial services businesses are still broadly enjoying the rebound in bond yields and the period before earnings season, in which they're expected to produce blowout results for the second quarter. Discover Financial jumped 3.4% while Morgan Stanley, T. Rowe Price, Goldman Sachs and Capital One traded higher by more than 2%.

Travel sites — Booking websites are trading lower as parts of Asia, Europe and Australia reimpose travel restrictions to protect against the spread of the delta variant of Covid-19. Expedia shares fell 1.2% before regaining some of its losses, while TripAdvisor shares fell 2.6%.

Cruise lines — Shares of cruise companies are also taking a hit in response to worries about the spread of the delta variant and a resurgence of Covid-19 cases. Carnival Corp's stock is down 1.6%. Royal Caribbean Cruises and Norwegian Cruise Line fell more than 1% before regaining some of their losses.

Disney — Shares of the media giant gained more than 4% following the release of "Black Widow." The film brought in $80 million from the domestic box office, which is the highest of any film released following the pandemic. The latest Marvel movie also brought in more than $60 million globally from sales through Disney+ Premier Access.

Clover Health - Clover's stock fell 2.5% after JPMorgan downgraded it Monday morning to underweight from neutral, before climbing back up 4.4%. JPMorgan said uncertainty about the company's business and a weak first-quarter report made the stock unattractive and that other managed care companies offer a more balanced risk/reward profile.

Charter — Shares of Charter fell 2.2% after Bernstein downgraded the telecommunications and media company to market perform from outperform. "We remain convicted about Charter's business plans, financial strategies, and structural competitive position in most of the U.S.," the firm said.

 — CNBC's Yun Li, Pippa Stevens, Hannah Miao and Tom Franck contributed reporting

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