Check out the companies making the biggest moves in midday trading: Peloton — The connected fitness company, known for its at-home Bike and Tread products, announced a new commercial series for high-traffic gyms on Monday. Shares gained 4.5%. Meta — Shares of the Facebook parent rose more than 2% after Reuters reported that Meta anticipates laying off 20% or more of its workforce in order to offset its artificial intelligence spending plans. Regarding Reuters’ reporting, a Meta spokesperson told CNBC , “This is a speculative report about theoretical approaches.” Nvidia — The chip giant’s stock advanced about 2% ahead of the company’s annual GTC conference , where CEO Jensen Huang is scheduled to deliver a keynote address at 2 p.m. ET. Analysts expect Nvidia to offer fresh insight into the durability of the AI spending boom and the chipmaker’s next generation of processors. Fertilizer companies — Shares of fertilizer companies slid in midday trading. Treasury Secretary Scott Bessent told CNBC that the U.S. is permitting Iranian oil tankers to travel through the Strait of Hormuz. The global supply chain for fertilizers also travels through the waterway, and companies in that sector have seen shares surge amid the Iran War. CF Industries and Mosaic lost more than 4%, while Nutrien slipped 5%. Upstart — Shares of the AI lending company jumped more than 6% after B …
