Stocks making the biggest moves midday: Yelp, AutoZone, Lowe's, Apple and more

cnbc.com:

In this article Check out the companies making headlines in midday trading. Yelp — Shares of the online reviewing company jumped more than 9% after activist investor TCS Capital Management took a stake in the firm, saying in an open letter that the company should explore strategic alternatives, including a sale.

TCS Capital built up a more than 4% position in Yelp, becoming one of the company's top five shareholders. TCS said Yelp is «shockingly undervalued» and could be sold to a private equity buyer for at least $70 per share, a more than 120% premium.

AutoZone — The auto retailer's shares fell more than 5% after missing revenue expectations for the fiscal third quarter. AutoZone posted $4.09 billion in revenue, less than the $4.12 billion consensus estimate of analysts polled by Refinitiv.

Earnings of $34.12 per share topped analysts $31.51 forecast. Inventory increased 7.4% year over year. Lowe's Companies — The home improvement retailer advanced 2.8% on a first-quarter earnings report that beat analyst expectations.