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A man walks in front of a Peloton store in Manhattan on May 05, 2021 in New York.

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Check out the companies making the biggest moves midday:

Peloton The fitness platform operator saw shares drop 8.9% after the U.S. Consumer Product Safety Commission said it's recalling more than 2 million bikes over concerns about seat breakages and related injuries. Peloton will offer free, updated seat posts to anyone using the recalled model.

Alphabet Shares added 4.31% a day after Google unveiled new software and gadgets at its developer conference. The tech giant also said it is eliminating the waitlist for its chatbot Bard.

PacWest Bancorp The regional bank's stock sank 22.7% after the company said deposits dropped 9.5% for the week ended May 5. Other regional bank shares followed suit, with Western Alliance and First Horizon shedding 7.3% and 3.2%, respectively.

Beyond Meat Shares tumbled 18.27% after the alternative meat manufacturer said it plans to sell up to $200 million of its common stock. The company said it intends to use the proceeds for general corporate and working capital purposes. The announcement came after Beyond Meat reported a first-quarter earnings-per-share loss that was less than expected.

Disney Disney shares tumbled 8.73% after the media company reported a drop in streaming subscribers. The entertainment giant also reported revenue and earnings in line with Wall Street's estimates, according to Refinitiv.

Icahn Enterprises Shares of Carl Icahn's conglomerate slid another 1.77% after notable short seller Hindenburg Research doubled down on its short-selling campaign against the company following its quarterly report. Icahn Enterprises reported a net loss of $270 million in the first quarter, with its hedge fund losing 4.1% during the period. It declared a $2 per share quarterly dividend.

AppLovin Shares popped 23.53% following the company's first-quarter revenue beat. Revenue was $715.4 million, compared to the $694.8 million expected, per StreetAccount. AppLovin's second-quarter guidance also topped expectations.

Goodyear Tire & Rubber The tire manufacturer's stock soared 21.42% after Elliott Investment Management sent a letter and presentation to the company. Elliott, which has about a 10% stake in Goodyear, said the purpose was to "outline the right path forward to create value at Goodyear and realize its full potential."

Unity Software Shares rallied about 12.94% after the video game software developer reported its first-quarter results. Unity Software's revenue of $500 million beat the $480 million expected from analysts polled by Refinitiv. The company also raised its full-year revenue outlook.

Tapestry Shares of the Coach parent jumped 8.27% after the company reported stronger-than-expected earnings and revenue for its latest quarter. It also issued upbeat guidance for the year that topped estimates.

Robinhood The stock added 6.39% after the brokerage reported better-than-expected revenue for the first quarter. Its first-quarter revenue came in at $441 million, versus analyst estimates of $425 million, according to Refinitiv. Robinhood also showed growth of monthly users, which hit 11.8 million.

Sonos Shares plunged 23.69% on the back of disappointing quarterly results. The company reported an adjusted loss of 24 cents per share, while analysts polled by Refinitiv expected a loss of 18 cents per share. The home sound systems manufacturer also reduced its guidance for the second half of the 2023 fiscal year amid weakening consumer demand and channel partner inventory tightening.

JD.com The U.S.-listed shares of JD.com advanced 7.21% after the Chinese tech firm beat analysts' first-quarter expectations on the top and bottom lines. JD.com reported earnings of CNY4.76 per share, exceeding consensus estimates of CNY3.53. Revenue came in at CNY242.96 billion, higher than expectations of CNY240.81 billion. Separately, JD.com said that Sandy Ran Xu, who is the company's current CFO, has been appointed to succeed Lei Xu as CEO and executive director.

Axon Enterprise Axon Enterprise gained 6.16% after JPMorgan said the pullback in the stock following its first-quarter results on Tuesday is a buying opportunity. The Taser maker slid 15% on Wednesday after reporting some disappointing total gross margin figures, even as it otherwise beat analysts' expectations.

Albemarle The chemical manufacturing stock added 2.06% after being upgraded by Keybanc to overweight from sector weight, citing improving trends in China's lithium market.

CNBC's Tanaya Macheel, Hakyung Kim, Yun Li, Alex Harring, Samantha Subin and Sarah Min contributed reporting.

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Stocks making the biggest moves midday: Peloton, Beyond Meat, Alphabet, PacWest & more - CNBC