Stocks making the biggest moves midday: Dell, Peloton, Workday and more

Check out the companies making headlines in midday trading.

Peloton – Shares of the cycle maker tumbled more than 7% after a disappointing quarterly report. The company reported revenue growth in its fiscal fourth quarter that slowed down drastically, while posting a wider-than-expected loss as costs from its treadmill recall mounted. Peloton also offered up an underwhelming revenue outlook for its first quarter.

Dell Technologies — Shares of the company ticked 4.4% lower despite its better-than-expected quarterly results. Dell reported adjusted quarterly earnings of $2.24 per share, 21 cents above estimates, with revenue also topping analyst projections.

HP — Shares of the tech hardware company slipped 1.7% after the technology company's quarterly revenue missed expectations. Morgan Stanley also downgraded HP to equal weight from overweight. The firm said in a note to clients that the near-term outlook for HP's products could hold back the stock.

Gap — Gap shares added about 3.5% following an earnings beat. The apparel retailer reported quarterly adjusted earnings of 70 cents per share on revenue of $4.21 billion. Analysts expected earnings of 46 cents per share on revenue of $4.13 billion, according to Refinitiv.

Workday — Shares of Workday soared 9.5% after the software company beat on the top and bottom lines of its quarterly results. Workday reported earnings of $1.23 per share on revenue of $1.26 billion. Wall Street expected earnings of 78 cents per share on revenue of $1.24 billion, according to Refinitiv.

Big Lots — Shares of Big Lots dropped 3.8% after the discount retailer missed Wall Street estimates for its latest quarter. Big Lots reported earnings of $1.09 per share, 3 cents shy of consensus analyst expectations, according to Refinitiv. The company also missed revenue estimates. Big Lots' comparable store sales slid a greater-than-expected 13.2%.

Hibbett  — Hibbett shares sunk more than 10% even after the athletic apparel retailer reported better-than-expected quarterly revenue and earnings. Hibbett earned $2.86 per share, almost double the $1.44 Refinitiv consensus estimate. The company also raised its full-year forecast.

Marvell Technology — Shares of Marvell Technology fell over 3% despite an earnings beat. The company reported adjusted earnings of 34 cents per share, while analysts projected earnings of 31 cents per share, according to Refinitiv. Marvell Technology's second-quarter revenue was in line with Wall Street estimates.

Ollie's Bargain Outlet — Ollie's shares sunk more than 6% following quarterly results that fell short of expectations. Ollie's reported adjusted quarterly earnings of 52 cents per share on revenue of $416 million. Analysts expected earnings of 55 cents per share on $436 million, according to Refinitiv.

VMWare — VMWare shares fell about 8.5% even after the software company's quarterly earnings report beat on top and bottom line estimates. The company reported adjusted quarterly earnings of $1.75 per share, topping the $1.64 consensus estimate, while revenue was slightly above Wall Street forecasts. However, cloud business revenue fell short of some analysts' forecasts.

AutoZone, Advance Auto Parts — Shares of AutoZone and Advance Auto Parts retreated more than 1% each after Morgan Stanley downgraded the stocks to equal weight. A "mid-cycle" period should lead to less upside for retail stocks, the firm said.

— CNBC's Maggie Fitzgerald, Yun Li and Jesse Pound contributed reporting

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