By Sam Boughedda
Investing.com -- U.S. indices are trading lower Friday, with the Nasdaq falling over 1%. Here are the midday movers on Friday, March 25th.
Nio Inc. (NYSE:NIO) is down over 11% after it reported earnings. In its earnings call, the company's co-Founder and CEO William Li warned that "chip supply is a big challenge" in 2022.
Carnival Corporation (NYSE:CCL) is 0.7% lower after being downgraded to Hold from Buy at Argus based on "deteriorated" prospects.
Switch, Inc. (NYSE:SWCH) was downgraded to Equal Weight from Overweight Friday, resulting in the stock trading around 2.6% lower Friday lunchtime.
Bed Bath & Beyond Inc. (NASDAQ:BBBY) rose, then fell, then rose again all before midday following news the company had reached a settlement with GameStop (NYSE:GME) executive chairman Ryan Cohen. The agreement sees three board members added to Bed Bath & Beyond.
Honest Company, Inc. (NASDAQ:HNST) reported an earnings and revenue miss Thursday after the close, resulting in the stock trading 27% lower at the midday point.
Cannabis stocks such as Tilray, Inc. (NASDAQ:TLRY) have continued to climb Friday on reports the U.S. House of Representatives is planning to vote on the Marijuana Opportunity Reinvestment and Expungement Act. Tilray shares are up 9.4%.