Stocks making the biggest moves midday: PG&E, Dell, GitLab, Credo Technology, Brown-Forman & more

Here are some of the companies making headlines in midday trading.

AST SpaceMobile – The satellite designer jumped almost 10% after Berenberg began coverage of the company and several of its peers. Berenberg gave AST SpaceMobile a buy rating and a price target of $92, suggesting about 65% upside from Tuesday's close.

The company has "a winning space-based direct-to-device strategy," wrote Berenberg, noting that the firm sees "asymmetric risk-reward" and multiple catalysts. PG & E Corp . – The California utility dropped another 7% after plunging 20% Monday.

Oakland-based PG & E began a strategic and financial review to study a possible reorganization, and deferred $2 billion in 2027 capital spending to curb "the need for higher-cost borrowing." Snowflake — The artificial intelligence data cloud company dropped 4% as its earnings report loomed. Analysts polled by FactSet see second-quarter earnings coming in at 45 cents per share on revenue of $1.48 billion.

Snowflake has been on a tear in 2026, up about 40%. Brown-Forman — The maker of Jack Daniel's whiskey advanced 4% after earnings narrowly beat expectations. Brown-Forman earned 38 cents per share in the first quarter, topping the FactSet consensus estimate by 1 cent.

Operating income of $252 million also beat the consensus call for $239.4 million. Revenue for the period fell short, however. GitLab — Shares of the software stock rallied nearly 13% on an earnings beat and upbeat full-year guidance.

GitLab earned 24 cents per share, excluding items, on revenues of $286 million in the second quarter, beating estimates for 18 cents and $273 million, respectively, according to LSEG.

Eos Energy Enterprises – The battery storage maker climbed 15% after signing an agreement with MN8 Energy to supply Google data centers with 86 megawatts of solar-generated electricity, 10 MW of zinc-based energy storage and 70 MW of lithium-ion storage from a site in West Virginia.

Sirius — Shares of the audio entertainment company rose more than 7% after Deutsche Bank upgraded the stock to buy from hold with a $45 price target, implying more than 50% upside from current levels. Dell Technologies — Shares of the computer maker jumped 7% after beating expectations on both lines on Tuesday.

Dell also lifted its forecast for the fiscal 2027 year, citing strength in its artificial intelligence services business. G-III Apparel – The maker of Donna Karan and Karl Lagerfeld clothing slid 11% after saying fiscal second-quarter net sales tumbled to $554.1 million from $613.3 million a year ago.

Full-year sales were forecast at $2.71 billion, down from $2.96 billion in fiscal 2026, due to the loss of about $460 million of Calvin Klein and Tommy Hilfiger sales. Palo Alto Networks — Shares of the cybersecurity stock fell 10% after it reported better-than-expected earnings for the fiscal fourth quarter on Tuesday.

The company earned $1.02 per share, excluding items, on $3.41 billion in revenue, outpacing expectations of 98 cents per share and $3.35 billion, respectively, per LSEG. MongoDB — The data developer dropped around 12% despite posting better-than-expected earnings and upbeat guidance.

MongoDB earned $1.90 per share, excluding items, on revenue of $772 million in the second quarter, while analysts surveyed by LSEG forecasted earnings of $1.61 a share and revenue of $734 million. Credo Technology — The connectivity stock fell about 18% after its non-GAAP gross margin for the first quarter came in at 68%, while analysts polled by LSEG penciled in 68.3%.

However, Credo beat expectations on both lines for the first quarter. — CNBC's Alex Harring, Scott Schnipper, Nick Wells and Darla Mercado contributed reporting