Stocks making the biggest moves midday: Nike, Lululemon, FedEx, Dutch Bros and more

Check out the companies making headlines in midday trading. Nike — The sneaker brand fell nearly 8% after the company gave a soft outlook for the full year and reported that sales in China have been slowing . In its latest quarter, Nike reported beats on the top and bottom lines. Lululemon — The athleisure company plummeted 16% after posting weaker-than-expected guidance as demand slows in North America. Separately, Lululemon beat earnings and revenue expectations for its fiscal fourth quarter.

The French luxury goods company lost 2%. The parent company of Fendi announced that Antonio Belloni will step down as group managing director and chair of the executive committee of LVMH Group. In April, Belloni is expected to become the president of LVMH Italy. Martin Marietta Materials — Shares of the construction materials company slid 1% following a downgrade from JPMorgan . After a 21% year-to-date rally, analyst Adrian Huerta thinks the stock's valuation now looks overly stretched.

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