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Connie Black makes adjustments to the production line for the Series 6 solar panels seen during a tour of the First Solar factory in Walbridge, Ohio, Oct. 6, 2021.

Dane Rhys Reuters

Check out the companies making the biggest moves midday:

First Solar — Shares rose 22 percent after the solar company announced it was acquiring Evolar AB for up to $80 million. First Solar’s acquisition of a European company that produces the thin film used in solar panels should accelerate the development of the next generation of photovoltaic technology.

News Corp. – Shares of the media company rose 6 percent after News Corp. reported record third-quarter earnings and revenue after the call, according to FactSet. The company said it expects to save $160 million annually by the end of 2023 from previous job cuts.

Icahn Enterprises – Carl Icahn’s company rose 4%, reducing this week’s losses to 12%. The stock has been on a wild ride since popular short-seller Hindenburg Research took a short position, citing “inflated” asset valuations and other factors. Separately, Icahn Enterprises said its board approved a $500 million buyback authorization. The company recently announced a quarterly dividend of $2.

JD.com — Shares of the U.S.-listed Chinese e-commerce company slipped 5.6%, adding to a 7.2% intraday gain. JD.com also announced on Thursday that CEO Xu Lei will leave in June “for personal reasons” and will be replaced by CFO Sandy Ran Xu.

Charles Schwab – Shares of the brokerage firm rose more than 2% on Friday after the company reported that total client assets rose 1% in April. CFO Peter Crawford said in a press release that client asset allocation activity continued to decline in May.

Twilio – Shares down 5%. The move added to a decline that began late Tuesday after the communications software maker forecast second-quarter earnings that missed analysts’ estimates. On Friday, Mizuho downgraded the stock from buy to neutral, saying it sees several near-term challenges for Twilio.

Robinhood – the stock shed 7.7%. That’s a reversal of Thursday’s 6.4% gain, which came a day after Robinhood posted a beat in first-quarter earnings and revenue. On Friday, Morgan Stanley said that Robinhood’s new 24-hour trading, announced on Wednesday, will not provide any material lift to the company’s financials.

Fox – Shares fell 1% after Wells Fargo downgraded the media company from overweight to equal weight. The Wall Street firm cited the challenges of online TV demand and costs for sports rights. Fox Fox News reported a third-quarter net loss on Tuesday due to costs related to its deal with Dominion Voting Systems.

General Digital — General Digital plunged 8 percent following its fiscal fourth-quarter earnings report, which followed Thursday’s close. The cybersecurity firm posted adjusted earnings that beat analysts’ estimates, according to FactSet. However, its $1.02 billion for the quarter was lower than the $1.06 billion expected.

—CNBC’s Yun Lee, Jesse Pound, Michael Blue and Sarah Min contributed reporting.

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