Check out the companies making the biggest moves midday: Peloton — The stock plunged 14% following the connected fitness company’s announcement it will begin a “global refinancing” process that includes a convertible notes offering and a $1 billion five-year term loan. Peloton, which recently announced a restructuring plan , has struggled with falling sales. Lam Research — Shares added 2.1% after the semiconductor equipment maker said its board of directors approved a $10 billion share buyback and a 10-for-1 stock split. AstraZeneca — U.S.-listed shares rose 2.3% after the U.K.-based pharmaceutical company said it planned to boost its total revenue to $80 billion by 2030, a 75% increase from 2023. Macy’s — The department store’s shares dipped about 1% after the company reported its fiscal first-quarter earnings . Macy’s profit topped Wall Street’s expectations, while the retailer’s revenue came in roughly in line. CEO Tony Spring said the company is in the “early innings” of turning around its namesake stores after the company stepped up investments at 50 of its Macy’s shops. VinFast Auto — The electric vehicle maker tumbled 15% after the National Highway Traffic Safety Administration said it will investigate a fatal crash that occurred in April involving a VinFast VF 8 EV. Lowe’s — The home improvement stock fell 2.9% despite the company posting a first-quarter earnings and revenue beat. Sales fell year over year, and CEO Marvin Ellison said on the earnings call that “the home improvement customer is still on the sideline.” Dell Technologies — Shares popped 2.8% after Citi increased its price target to $170, implying a 16.9% upside from Monday’s close. The bank is bullish on Dell’s opportunities in artificial intelligence. BlackLine — The software company shed almost 8% after announcing a plan to offer $500 million in convertible senior notes due in 2029. Toast — Shares fell more than 3% following a downgrade at Baird to neutral. The firm thinks the restaurant software firm may be overvalued after its 43% jump in 2024. Palo Alto Networks — The cybersecurity stock dropped 3% after issuing in-line guidance for the current quarter. Palo Alto Networks topped estimates for its fiscal third quarter but said it expects fourth-quarter billings to range between $3.43 billion and $3.48 billion. Analysts polled by FactSet expected $3.45 billion in billings. Keysight Technologies — Shares plummeted 9% on
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