Stocks making the biggest moves midday: Advanced Micro Devices, HP, Sweetgreen and more

Check out the companies making headlines in midday trading. Advanced Micro Devices — The chipmaker's stock gained more than 2%. Advanced Micro Devices announced plans to buy server builder ZT Systems in a cash-and-stock deal totaling $4.9 billion. HP — Shares slid more than 3% after Morgan Stanley downgraded the personal computing company to equal weight from overweight, citing limited upside potential.

GM said it's laying off more than 1,000 salaried employees globally in its software and services division following a review to streamline the unit's operations. The layoffs include roughly 600 jobs at General Motors' tech campus near Detroit. Dutch Bros — Shares of the coffee chain dipped 3% after Piper Sandler downgraded the stock to neutral from overweight. Dutch Bros could be hurt by softening traffic to fast casual restaurants, according to the investment firm.

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