Stocks making the biggest moves midday: Twitter, Poshmark, Rivian and more

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Check out the companies making headlines in midday trading.

Twitter — Shares of Twitter surged nearly 13% after a report that Elon Musk plans to go through with the acquisition of the company at $54.20 per share, the originally agreed-upon price. Trading of the company's stock was halted pending news around midday Tuesday.

Rivian — Shares of the electric vehicle maker shot up 13% after the company said Monday that third-quarter production jumped 67% compared to the prior quarter. The company remains on track to meet the production goal it set in March after halving previous estimates due to global supply chain issues.

Poshmark — Shares of the online retail site surged more than 13% midday after the company struck a deal with South Korean internet giant Naver to be acquired for about $1.2 billion. The merger could help Naver deepen its reach in online retail and allow Poshmark expand internationally.

Illumina — The biotech stock jumped more than 9% after SVB Securities upgraded Illumina to outperform from market perform, citing the potential of new sequencing innovations called the NovaSeq X Series to drive upside in 2024 and beyond, according to FactSet's StreetAccount.

Travel stocks — Shares of airline and cruise line stocks surged Tuesday and were among leaders in the S&P 500. These stocks are volatile and sensitive to big swings in markets overall. Norwegian Cruise Line jumped 13%. Royal Caribbean and Carnival gained 12% and 11%, respectively. Delta Air Lines and American Airlines each advanced more than 8%.

Gilead Sciences — Shares of the biopharma stock gained 4% after JPMorgan Chase upgraded Gilead Sciences to overweight. The bank said investors are undervaluing its growth potential and the stock