Check out the companies making the biggest moves midday:

Horizon Therapeutics — Shares of the biotech firm fell more than 15% after the Federal Trade Commission sued to block the company’s acquisition by biopharmaceutical giant Amgen. The deal, worth $27.8 billion, was meant to strengthen Amgen’s drug portfolio as it faces several patent expirations over the next decade for key treatments.

Vodafone — U.S.-listed shares of the British telecommunications company dropped 7% after Vodafone announced plans to cut 11,000 jobs. CEO Margherita Della Valle said the company’s performance “has not been good enough” and Vodafone “must change.”

Western Alliance Bancorp — Western Alliance shares jumped 3.6% after Bank of America reinstated coverage on the stock with a buy rating. Bank of America said it is confident in the regional bank’s business model. The firm said that “WAL does not share a ton in terms of business model and balance sheet characteristics relative to the three failed banks,” noting its above-average ratio of insured deposits to total deposits. Shares are down 46% year to date.

Capital One — Capital One’s stock gained 2.4% a day after securities filings revealed a new stake in the financial institution from Warren Buffett’s Berkshire Hathaway worth more than $950 million. Regulatory documents also showed Michael Burry’s Scion Asset Management picked up some shares during the first quarter.

RH — Shares of the luxury furniture retailer slid 7.5%. A regulatory filing posted late Monday showed that Warren Buffett’s Berkshire Hathaway dumped its stake last quarter. The Omaha-based conglomerate had owned 2.36 million shares of RH at the end of 2022.

Alphabet — The stock added nearly 3% in midday trading. On Monday, Bill Ackman’s Pershing Square Capital Management revealed in a securities filing that it opened a new position in Alphabet totaling nearly $1.1 billion during the first quarter. Dan Loeb’s Third Point also built a sizeable stake in the tech giant in the first quarter. 

Home Depot, Lowe’s — Shares of home improvement retailers Home Depot and Lowe’s lost 1.4% and 1% in midday trading Tuesday. Home Depot reported the biggest revenue miss in more than 20 years earlier in the day, posting $37.26 billion while analysts forecasted by Refinitiv forecasted $38.28 billion. Lowe’s will report quarterly results on May 23.

Expedia — The travel booking site operator saw its shares rise 2.7% after Gordon Haskett upgraded the stock to buy from hold. The firm said concerns about its tech stack migration are overblown and that it sees a tailwind from traditional lodging offerings. It also highlighted the upcoming launch of its One Key program, which is expected to drive future share gains.

Seagen — Shares of the biotechnology company shed 5%. On Monday, Daniel Welch, a director at Seagen, disclosed the sale of 1,864 shares, a stake worth more than $370,000. Seagen and Pfizer also filed paperwork for their proposed merger to the Federal Trade Commission on Friday, just days before the FTC sued to block Amgen’s acquisition of Horizon Therapeutics.

Sea Limited — The consumer internet company dropped 17% after slightly missing expectations for first-quarter revenue. The company posted $3.04 billion, under the $3.06 billion consensus estimate of analysts polled by FactSet.

GE HealthCare — The medtech company’s shares gained nearly 3% after Oppenheimer initiated coverage with an outperform rating on Monday. The firm said GE HealthCare is well-positioned to benefit from an aging population and rise in cases of chronic diseases. GE HealthCare separated from parent company General Electric earlier in 2023 and began publicly trading on the Nasdaq Jan. 4.

Etsy — The stock sank more than 5% after Morgan Stanley cut its price target to $74 per share from $79, implying 24% downside from Monday’s close. The Wall Street firm said it sees slower growth ahead for Etsy.

—CNBC’s Yun Li, Tanaya Macheel, Alex Harring, Samantha Subin, Hukyung Kim, Brian Evans, Sarah Min and Michael Bloom contributed reporting.