Stocks making the biggest moves midday: General Electric, Warner Bros. Discovery, UPS, 3M and more

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Check out the companies making headlines in midday trading.

General Electric — Shares slid more than 11% despite the industrial company reporting top and bottom line beats for the first quarter. CEO Lawrence Culp said GE is «trending toward the low end» of its guidance due in part to inflation pressure. Additionally, pressures from supply chain issues, the war in Ukraine and the spread of Covid hurt GE's revenue by six percentage points, Culp said.

Sherwin-Williams — Shares of the paint company jumped more than 9% after the company beat Wall Street estimates for its first-quarter earnings. Sherwin-Williams posted earnings of $1.61 per share last quarter, topping estimates of $1.54 per share, according to FactSet's StreetAccount. The company's revenue for the quarter rose more than 7% to $5 billion from last year, also beating expectations. 

United Parcel Service — The shipping stock dropped 2.6% despite a stronger-than-expected first quarter report. UPS earned an adjusted $3.05 per share on $24.38 billion of revenue. Analysts surveyed by Refinitiv were expecting $2.88 per share and $23.78 billion of revenue. The company maintained its guidance, but CEO Carol Tome said on a conference call with analysts that e-commerce growth was slowing relative to the boom during Covid.

Warner Bros. Discovery — The media giant's shares fell more than 4% after the company warned its 2022 profit would be lower than expected. Chief financial officer Gunnar Wiedenfels cited «unexpected projects» and weaker first-quarter WarnerMedia operating profit on the company's earnings call.

Waste Management — The waste services company got a 5.7% boost in its shares after it reported earnings and revenue for the first quarter that