Stocks making the biggest moves midday: Tesla, Facebook, Red Robin & more

div > div.group > p:first-child"> Tesla — Tesla shares plummeted 8% in midday trading on Thursday after the automotive company announced that it delivered 63,000 cars in the first quarter, well below a FactSet estimate of 76,000. Model 3 deliveries also disappointed analysts, coming in at 50,900.

Constellation Brands — Shares of Constellation Brands rose 3.42% after the Corona beer owner announced the sale of 30 of its wine brands to E&J Gallo Winery for $1.7 billion. The company also reported earnings per share of $1.84, 13 cents above a Refinitiv estimate. Office Depot — Shares of Office Depot dropped 19.50% after the company released preliminary first-quarter results that disappointed investors. The company said it sees revenues for the quarter at $2.76 billion, below a Refinitiv estimate of $2.82 billion. Office Depot added it expects operating income to come in at $65 million, well below a FactSet estimate of $108 million. The retailer cited a poor operating performance from its CompuCom division.

Micron Technology — Shares of Micron dropped nearly 3% after the stock was downgraded to underweight from neutral at Morgan Stanley. The bank said that the chipmaker's rally has gone too fast for too long in the midst of growing inventory challenges.

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