These are the headline-grabbing companies in midday trading.

Activision Blizzard — The video game giant saw its shares soar by about 27% after it announced Microsoft will buy it in a $68.7 billion all-cash dealThis is Microsoft’s biggest acquisition. Activision CEO Bobby Kotick has been called to resign due to cultural issues within the company. He will continue as CEO of the company during this transition. Gaming companies Electronic Arts Take-Two Interactive also rose about 6% and 5%, respectively, and were among the top gainers in the S&P 500. MicrosoftShares fell by more than 1 percent

Goldman Sachs — Shares of the investment bank dropped 8% following disappointing quarterly resultsThe result is affecting the averages of all major banks. Goldman posted fourth-quarter profit below analysts’ expectations as the bank’s operating expenses surged 23% on higher pay for Wall Street workers and increased litigation reserves. Others large banks reported rising expenses during the quarter and also saw their profits drop Tuesday. Morgan StanleyDropped by about 5% JPMorganIt was about 4% off. CitiThe drop was around 2%

Bank of New York Mellon — The bank’s stock fell about 2% despite reporting quarterly earnings that exceeded Wall Street analysts’ expectations. BNY Mellon’s most recent quarter-end earnings reported $1.04 per share, which is a difference of 1.01 cents from estimates. Revenue was $4.02 billion, against expectations of $3.98 million.

BlackRock — The asset manager saw its shares fall by more than 2% after its CEO, Larry Fink, fired back at accusations that it uses its position to influence a politically correct agenda. Fink wrote his annual letter. Fink stated that stakeholder capitalism doesn’t have to do with politics, and is not “not woke.”

Charles Schwab — The brokerage’s stock slid more than 5% after the company reported a quarterly miss on both earnings and revenue. Schwab posted earnings of 86c per share and fell short by 2 cents. The revenue came to $4.71 billion versus expectations of $4.79 trillion.

Gap — Shares of the retailer dropped nearly 7% after Morgan Stanley downgraded Gap to underweightFrom equal-weight. In a note, the investment company stated that Gap could suffer from rising costs and increased competition in 2022.

Citrix Systems — The enterprise software firm’s shares jumped more than 5% following a Bloomberg News report over the weekend that Elliott Investment Management and Vista Equity Partners are in advanced talks to buy Citrix. According to reports, both firms have reached out to banks for financing their deal. A decision could come within weeks.

Exxon Mobil — Shares of the oil giant gained nearly 1% as oil prices jumped to the highest level in seven years. Through midday trading on Wall Street, energy stocks were the only S&P 500 sector to trade down by less than 1%, though Exxon was the only company from the group trading in the green. Exxon, Tuesday plans to reach net-zero emissionsIt will be operational by 2050.

Moderna — Shares fell about 8% even after the vaccine maker said it expects to be able to share data from an Omicron-specific vaccine with regulators in March, CEO Stephane Bancel said at the World Economic Forum’s virtual Davos Agenda conference. In the ideal scenario, a vaccine that combines a booster shot against Covid-19 and an experimental flu shot will be made available in fall 2023.

Peloton — The stock fell more than 5% after CNBC reported the at-home fitness company is working with management consulting group McKinsey & Co. to review its cost structure and potentially cut some jobs. CNBC had reported that the company was set to go public. charge delivery fees on its bike and treadmill products.

 — CNBC’s Pippa Stevens, Yun Li, Jesse Pound and Hannah Miao contributed reporting