Stocks making the biggest moves midday: Lyft, Spotify, Expedia, Yelp and more

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Check out the companies making headlines in midday trading.

Lyft — The ridesharing stock cratered 36.4% after issuing disappointing guidance for its first quarter. Lyft also got hit by a slew of downgrades from analysts who said Uber may look better positioned to capitalize on the broader recovery in ridesharing. Uber shares were also down 4.4%.

Spotify — Shares of the music streamer jumped 3.6% after news that ValueAct has taken a stake in the company. Spotify recently reported fourth-quarter results that showed strong user growth.

Expedia — The travel company's stock toppled 8.6% after falling short of analysts' revenue and earnings expectations for the recent quarter. Expedia posted adjusted earnings of $1.26 a share on revenues of $2.62 billion. Analysts called for earnings of $1.67 per share on $2.70 billion in revenue, according to Refinitiv.

Yelp — Yelp's stock jumped 3.2% after fourth-quarter revenue beat analysts expectations, according to Refinitiv. The company posted earnings that were in line with estimates.

Affirm — The buy now, pay later stock shed 5.8% following a downgrade to equal weight from an overweight rating by Morgan Stanley. The Wall Street firm said that Affirm's offerings appear too focused.

PayPal — PayPal shares traded 3% higher after CEO Dan Schulman announced plans to retire from the online payments company by the end of the year.

VF Corp — Shares rose 0.9% after Stifel upgraded the apparel maker to a buy from a hold. Stifel said the company, which is the parent of brands including Vans and The North Face, was at an attractive stock price following a selloff on the back of a dividend cut.

FREYR Battery — Shares of the battery manufacturer climbed 1.5% after Bank of America