Stocks making the biggest moves midday: Gap, Tesla, L Brands & more

div > div.group > p:first-child"> Tesla — Shares of Tesla fell 7.58 percent after the company's underwhelming announcement that it will be launching its standard Model 3. Barclays analyst Brian Johnson even called it the"un-iPhone moment." The electric car maker also announced store closures and layoffs in an effort to reduce costs, in addition to stating that the company will not turn a profit during its first quarter.

Walgreens Boots Alliance — The pharmacy operator dropped more than 5 percent after an analyst at Baird slashed his price target on the stock to $67 per share from $70."WBA is advancing many new initiatives , but can't change its market environment, which is universally tough," the analyst said. L Brands — Shares of the Ohio-based retail business rebounded by more than 7 percent Friday. A day earlier, the stock dropped sharply after the company missed earnings expectations and issued lower-than-expected guidance. The owner of Victoria's Secret and Bath & Body Works also announced it plans to close 53 Victoria's Secret stores this year.

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