Stocks making the biggest moves midday: Twilio, Starbucks, Nikola, Moderna and more

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Check out the companies making headlines in midday trading.

Starbucks — Shares jumped 6% after the coffee chain raised its long-term financial forecast on Tuesday, and said it expects double-digit growth for revenue and per-share earnings as it makes changes to its cafes.

Nikola — Nikola leapt 10% after BTIG upgraded shares to buy from neutral, saying the electric vehicle company is «well positioned» to get a boost from truck decarbonization.

Nucor — Shares tumbled 9.6% after the steel producer issued disappointing guidance for its third quarter, saying that it expects earnings to be in the range of $6.30 to $6.40 per diluted share.

Twilio — Shares of Twilio rose 12% after the company said it's laying off 11% of its workforce, according to a filing with the Securities and Exchange Commission. The cloud communications software company, which is aiming to reach profitability by 2023, said the layoffs are part of a broader restructuring plan to improve operating margins, reduce operating costs and create a better selling capacity.

Moderna — Moderna spiked 6.5% after CEO Stéphane Bancel said the company is open to supplying Covid-19 vaccines to China, according to a Reuters report.

Coterra Energy, APA — Energy companies' shares jumped alongside rising oil prices. Coterra Energy and APA leapt more than 7%.

Coty — Shares of the beauty company rose more than 4% after Bank of America reinstated coverage of Coty with a buy rating, saying that it's a «turnaround story.»

Johnson & Johnson — Shares of the health-care company rose 2% after announcing it will repurchase up to $5 billion of its common stock. The move comes ahead of the Inflation Reduction Act's 1% tax on buybacks, which goes into effect in 2023. Johnson