Check out the companies making the biggest moves midday: E.l.f. Beauty — Morgan Stanley upgraded the beauty brand to overweight from equal weight, prompting the stock to pop more than 9%. The bank said the consensus earnings estimate for E.l.f. is “way too low,” seeing catalysts from product pricing and the acquisition contribution of Rhode. Owens & Minor — The health-care logistics company plunged 32% after management said on its second-quarter earnings call that stranded costs will continue to rise, and that it will focus on reducing such costs to improve profits, according to StreetAccount. Results will eventually be helped by the divestiture of its Products & Healthcare Services unit in the second half, the company said. AAON — Shares of the HVAC company dropped more than 12% after its second-quarter results missed analysts’ estimates on the top and bottom lines. AAON posted adjusted earnings of 22 cents per share on revenue of $311.6 million for the quarter. Analysts polled by FactSet had estimated 33 cents per share on $325 million in revenue. The company also cut its full-year sales guidance. Tegna — The broadcaster rallied 30% after The Wall Street Journal and Reuters reported, citing sources, that Nexstar was in talks to acquire Tegna. Nexstar rose more than 4%. TKO Group — The stock rose more than 7% after Paramount Skydance agreed to buy the U.S. rights to UFC …
