Top Stocks Midday: Tesla, Alaska Air, Texas Instruments, Western Digital and More

U.S. stocks were moving midday Monday after several major corporations made dramatic moves following corporate news and international developments.

Tesla shares jumped 6% after CEO Elon Musk announced he bought $1 billion worth of stock on Friday. The action indicated faith in the electric car maker and fueled buying momentum.

On Semiconductor, Analog Devices, and Texas Instruments declined after China initiated an antidumping probe into selected analog chips from the United States. Texas Instruments fell by over 3%, On Semiconductor dropped 1%, and Analog Devices traded down slightly.

Western Digital rose over 5% to a new high following the storage drive manufacturer's decision to increase prices on all hard drives due to "unprecedented demand."

Alaska Air dropped more than 5% following its guidance of third-quarter earnings per share to the lower end of its $1.00 to $1.40 estimate.

TKO Group Holdings, UFC and WWE parent, surged over 4% after it said it plans to buy back $1 billion worth of stock under a previous authorization.

Whirlpool dropped 2% after a Wall Street Journal report that the firm informed the Trump administration that foreign competitors can potentially evade tariffs by undervaluing imports.

Brookfield Asset Management rose almost 2% following reports it is negotiating to buy Yes! Communities from Singapore's GIC for $10 billion, the Financial Times said.

Hain Celestial fell 25% after reporting a surprise loss for the fourth quarter of 2 cents a share, versus analyst estimates for a 3-cent profit. The company's market capitalization is now less than $150 million.

Gemini Space Station, the crypto exchange founded by the Winklevoss twins, increased 1%. The firm listed on Nasdaq last Friday, increasing 14% in its maiden trading day.

Corteva declined 4% after reports indicated the farm company is weighing a split of its pesticide and seed business.

Hims & Hers Health lost over 1% following FDA Commissioner Martin Makary's comment in a medical journal article that its Super Bowl ad broke rules.

VF Corp., parent of North Face and Vans, fell about 1% after it agreed to sell its Dickies brand to a private equity firm for $600 million in cash.