Check out the companies making headlines in midday trading. Duolingo — Shares surged more than 9% following Morgan Stanley’s initiation of the language learning platform at overweight. The bank set a Wall Street-high price target on Duolingo shares and called the stock a “best-in-class consumer internet asset.” Tesla — Shares of the electric vehicle maker jumped about 7% despite its first-quarter earnings and revenue coming in weaker than expected. CEO Elon Musk said in the company’s earnings call on Tuesday that his amount of time spent with the Department of Government Efficiency will decline “significantly” starting next month . Gildan Activewear — Shares climbed 2% after Citigroup opened a positive catalyst watch on the branded clothing stock. The firm noted Gildan’s Hondurus-based manufacturing could be a way to avoid President Donald Trump’s hefty “reciprocal” tariffs. Enphase Energy — Stock in the solar technology company pulled back more than 14% after missing Wall Street’s first-quarter forecasts. CEO Badri Kothandaraman noted on its earnings call that tariffs will hamper the company’s battery business, which relies on sourcing from China. Enphase expects tariffs will reduce its gross margin by about 2% in the current quarter. Cava — Shares climbed 7% in midday trading. Bernstein upgraded the fast-casual restaurant chain stock to outperform , with analyst Danilo Gargiulo noting he believes the company can be protected from an economic downturn and forecast 40% upside. SAP — The software stock advanced more than 8% after first-quarter earnings surpassed analyst estimates. SAP earned 1.44 euros per share, or $1.64, while analysts surveyed by LSEG expected 1.32 euros per share. Revenue, however, missed analyst forecasts. Intuitive Surgical – The surgical robot maker added 5% after reporting adjusted earnings of $1.81 per share for its first quarter, topping the $1.72 LSEG consensus estimate. Revenue came in at $2.25 billion, above the $2.19 billion expected from analysts. Capital One Financial — Stock in the credit card company gained 6% on the heels of better-than-expected first-quarter results. Capital One notched an adjusted $4.06 per share, while analysts polled by LSEG were looking for $3.71. Multiple Wall Street firms, including Bank of America, upped their price target on the stock following the results. GE Vernova — Shares were about 5% higher after the energy equipment manufacturer reiterated its full-year guidance, even as it forecast a $400 million hit due to tariffs. GE Vernova expects revenue of up to $37 billion and free cash flow of as much as $2.5 billion in 2025. Bristol Myers Squibb – Shares of the biopharmaceutical firm declined 3% after the company said its drug Cobenfy failed to reach the necessary threshold to denote a statistically significant difference as a supplemental treatment for adults with schizophrenia in a Phase 3 trial. Big tech — Technology behemoths were sharply higher on Wednesday, as the broader market exhaled in response to President Donald Trump’s softer rhetoric on Chinese tariffs and Federal Reserve Chair Jerome Powell. Stock in iPhone maker Apple gained about 2%, alongside Microsoft . Shares of Facebook-parent company Meta Platforms advanced 4%, as did Nvidia . Boeing — The airplane maker saw shares rally nearly 6% after the firm’s strong first-quarter report . Boeing’s loss narrowed to $31 million and it burned less cash than analysts estimated. Its airplane deliveries rose close to 60% from a year ago as the company worked to stabilize production. The company is also preparing to ask for approval to ramp up production of its bestselling 737 Max jets to 42 a month later this year. — CNBC’s Yun Li, Alex Harring, Sean Conlon and Michelle Fox contributed reporting. Get Your Ticket to Pro LIVE Join us at the New York Stock Exchange! Uncertain markets? Gain an edge with CNBC Pro LIVE , an exclusive, inaugural event at the historic New York Stock Exchange. In today’s dynamic financial landscape, access to expert insights is paramount. As a CNBC Pro subscriber, we invite you to join us for our first exclusive, in-person CNBC Pro LIVE event at the iconic NYSE on Thursday, June 12. Join interactive Pro clinics led by our Pros Carter Worth, Dan Niles and Dan Ives, with a special edition of Pro Talks with Tom Lee. You’ll also get the opportunity to network with CNBC experts, talent and other Pro subscribers during an exciting cocktail hour on the legendary trading floor. Tickets are limited!