Check out the companies that made the biggest moves midday: Independent Bank — Shares of the Michigan-based bank holding company rose about 5% after third-quarter profits beat expectations. Independent Bank earned $1.90 per share, beating the FactSet consensus call of $1.85 per share. Net interest income was also $220.7 million, exceeding expectations of $218.5 million. The bank expects home equity loans to grow at a low-single-digit annual rate in the fourth quarter. Moog — the maker of precision motor control systems rose more than 4%. Morgan Stanley upgraded the stock from equal weight to overweight. The company also raised its price target to $448 from $405, suggesting an upside of about 23% from Thursday’s closing price. The stock price rose by more than 55% in 2026 and then crashed. Fox Factory — The auto suspension maker fell 9% after CEO Mike Dennison resigned. Fox’s board of directors has appointed Douglas Grimm as interim chief executive officer. The company also lowered its full-year earnings forecast. Trust Financial — Shares rose 2% after the regional bank reported third-quarter results. Adjusted earnings per share were $1.16, an increase of 12% from the prior year period. Adjusted sales totaled $5.3 billion. Community Finance — The bank posted a nearly 2% rise in third-quarter profit, beating the Street. Excluding certain items, regional earnings were 73 cents per share, compared with analyst estimates compiled by FactSet of 66 cents per share. JB Hunt — The trucking giant fell 3% on mixed third-quarter results. Sales were $3.68 billion, exceeding LSEG’s expectations of $3.57 billion. However, adjusted earnings per share were $1.82, slightly below the consensus of $1.89 per share. Tesla — Shares fell 1% after the EV maker unveiled its long-awaited second-generation Roadster. The vehicle uses rocket-style thrusters developed by SpaceX, and demonstrated aerial maneuverability during Thursday’s event. Tesla calls it the world’s first flying car and expects production to begin in 2028. Alcoa — The aluminum producer rose more than 6% after better-than-expected third-quarter revenue, supported by a recovery in its alumina business. CoreWeave — Thursday’s rally was short-lived, with the neocloud provider’s stock falling 10%. Stocks have been under pressure this week as investors brace for higher interest rates that could affect the debt-laden company. Netflix — Shares fell 2% after the streaming giant announced a management shakeup. Chief content officer Bela Bajaria is stepping down and will be replaced by former Disney executive Peter Rice. The changes come just one day after Netflix announced it would cut about 6% of its workforce, or about 1,000 people. —CNBC’s Fred Imbert and Darla Mercado contributed reporting.
