Take a look at the businesses making headlines in noon buying and selling.

Tesla — Shares rose about 2.2% after UBS upgraded the electric vehicle stock to buy from neutral. The agency mentioned Tesla’s pullback this yr presents an “engaging entry level” for buyers. “We imagine the operational outlook is stronger than ever earlier than,” UBS mentioned.

Signet Jewelers – The jewellery retailer’s shares superior by rougly 9% after the corporate posted quarterly revenue and income that beat analysts’ estimates and issued an upbeat forecast for the yr. Signet additionally expanded its share repurchase authorization by $500 million.

Five Below — The low cost retailer’s inventory shed 2.9% following a slight beat on earnings however a miss on revenues within the latest quarter. 5 Beneath reduce steering for the yr.

Nio — Nio’s inventory fell 7% following the Chinese electric vehicle maker’s recent quarterly earnings report. The corporate struggled throughout China’s Covid-19 lockdowns and is dealing with a margin squeeze unlikely to start recovering till the third quarter, mentioned CEO William Bin Li throughout an earnings name.

Novavax — Shares of the drug maker tumbled 16% on news that the FDA could postpone a decision on Novavax’s Covid-19 vaccine. The FDA wants to guage modifications to the drug maker’s manufacturing course of, a spokesperson advised CNBC.

Ollie’s Bargain Outlet — The low cost retailer’s inventory jumped 6.2% on an upgrade from RBC Capital Markets to outperform from sector carry out following Ollie’s latest quarterly report.

Skillsoft — Skillsoft’s inventory plummeted 16% after the educational platform posted quarterly outcomes. The corporate reported a smaller loss than analysts anticipated however posted income that fell beneath analysts’ expectations.

— CNBC’s Tanaya Macheel and Hannah Miao contributed reporting