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Stocks making the biggest moves midday: Abercrombie & Fitch, Palo Alto Networks, Moderna and more

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In this article Check out the companies making headlines in midday trading. Citigroup – Citigroup shares fell nearly 3%. The bank announced plans to spin off its Mexico business Banamex through an initial public offering after its efforts to find a buyer for the unit failed.

Palo Alto Networks - The cybersecurity company saw its shares jump nearly 8%. The action came a day after Palo Alto Networks posted a better-than-expected quarterly report and strong earnings guidance.

The company reported adjusted earnings of $1.10 per share and revenue of $1.72 billion. Analysts polled by Refinitiv had estimated earnings of 93 cents per share and $1.71 billion in revenue.

Netflix — Shares rose 1.2%. On Tuesday, the company started notifying customers of its password-sharing rules in the U.S. Oppenheimer said the crackdown on account sharing should help the stock.

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