Stocks making the biggest moves midday: (2)

$Lucid Group (LCID.US)$
— The electric vehicle maker dropped 7.7% on the back of a poor earnings report. Lucid reported a larger quarterly loss than expected, while revenue missed the consensus estimate of analysts, according to Refinitiv.
$Trex Co. (TREX.US)$
— Trex Company jumped 8.1% after the maker of wood-alternative decking and railing topped analysts' first-quarter expectations, and issued stronger-than-expected second-quarter revenue guidance. Trex forecasts second-quarter revenue between $310 and 320 million, better than expectations of $309.0 million, according to FactSet.
$McKesson (MCK.US)$
— McKesson rose 7.4% after exceeding fourth-quarter expectations. The health care firm posted adjusted earnings of $7.19 per share, slightly higher than analysts' forecasts of $7.18 per share, according to FactSet. It reported revenue of $68.91 billion, which was better than forecasts of $68.08 billion.
$Shopify (SHOP.US)$
— Shares shed 1.5% following a downgrade to neutral from overweight by Atlantic Equities. The firm said the downgrade was mainly due to valuation, while noting the company is a “best-in-class product executor with strong long-term growth prospects.”
$Alphabet-C (GOOG.US)$
— Google parent Alphabet rose less than 1% ahead of its annual developer conference this week, where the company will announce its new general-use large language model called PaLM 2. Meanwhile, Google is also set to unveil advancements to Bard and Search with “generative experiences.”
$Shoals Technologies (SHLS.US)$
— The solar energy tech company’s shares surged 19% following an earnings and revenue beat for the first quarter. Guggenheim upgraded its rating on shares to buy in a Tuesday note, citing an attractive valuation and promising market share gains.
$Ferguson (FERG.US)$
— The construction products company added 1.8% following an upgrade to buy from hold by Jefferies. The firm said the company’s discount to peers is narrowing.
$Boeing (BA.US)$
— Shares advanced 2.4% after Ryanair said it would buy at least 150 of the plane maker’s 737 Max 10s with options for 150 more.
$Dish Network (DISH.US)$
— DISH lost 5.8% after reporting first-quarter earnings. Earnings per share was in line with analyst estimates at 35 cents, while revenue came in slightly under ay $3.96 billion against a $4.06 billion forecast from analysts polled by FactSet. The company lost more pay TV subscribers than in the same quarter a year ago, but lost less retail wireless subscribers than the year-ago period.