Stocks making the biggest moves midday: Meta, Victoria's Secret, Microsoft, Caterpillar and more

Check out the companies making headlines in midday trading. Victoria's Secret — Shares dropped 3.5% after Goldman Sachs initiated coverage of the stock with a sell rating, saying it sees a "tough macro and ongoing competitive pressure" for the lingerie company in the near term. Longer term, the firm is constructive on the company's loyalty initiatives and renewed merchandise focus. Meta Platforms — The Facebook-parent company plunged more than 11%.

42 billion. Management warned that Boeing's airplane delays would pressure its growth into 2025 and lowered growth guidance accordingly. ServiceNow — The digital workflow firm slid 5% after it only narrowly beat analysts' revenue expectations in the first quarter. ServiceNow posted revenue of $2.6 billion, slightly higher than the $2.59 billion analysts polled by LSEG had anticipated. Adjusted earnings surpassed estimates as well.

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