A monitor displays Peloton Interactive Inc. signage during the company's initial public offering (IPO) across from the Nasdaq MarketSite in New York, U.S., on Thursday, Sept. 26, 2019.

Michael Nagle | Bloomberg | Getty Images

Check out the companies making headlines in midday trading.

Peloton The exercise equipment stock jumped more than 11.7% and hit an all-time high after Peloton announced that it planned to buy equipment manufacture Precor for $420 million. The deal could help Peloton ramp up production to meet strong demand.

IAC Shares of IAC jumped more than 14.1% on Tuesday after announcing it is spinning off its full stake in video software company Vimeo. Vimeo will become an independent publicly traded company after the deal closes, expected in the second quarter of 2021.

Apple A gain of 2.9% helped Apple offset losses in the major indexes given the iPhone maker's $2.2 trillion market cap. Investors accredited the equity's strength to reports that Apple is advancing plans to manufacture self-driving cars by 2024, a massive undertaking the tech company has dubbed Project Titan.

CarMax The auto retailer reported quarterly per-share earnings of $1.42, topping the consensus estimate of $1.14 a share. Revenue also came in above Wall Street forecasts. But CarMax shares fell more than 8% after the company reported that comparable used-vehicle sales dropped 0.8% compared to a FactSet consensus estimate of a 1% increase.

Carnival, Norwegian Cruise Line, MGM Resorts Travel-related stocks came under pressure amid lingering concerns about the new coronavirus strain from the U.K.Carnival lost 5.9%, Norwegian Cruise Line fell 6.9% and Royal Caribbean dipped 3%. MGM Resorts fell 0.5%. Delta Air Lines, American Airlines and United Airlines all slipped more than 2.5%.

Sportsman's Warehouse Shares of the retailer surged 39.6% after the company said it agreed to be bought by Great American Outdoors Group. The parent company of Cabela's will pay $18 in cash per share of Sportsman's Warehouse, above the stock's Monday closing price of $12.65 per share.

RealReal Shares of the luxury clothing company popped 10.3% after Baird initiated coverage of RealReal with an outperform rating. The Wall Street firm called RealReal a "compelling open-ended growth story."

Rent-A-Center Shares of the furniture and electronics rental company added 1.2% after Loop Capital upgraded Rent-A-Center to buy from hold. The investment firm said in a note that the company's acquisition of Acima was a "game changer."

Illumina Illumina shares advanced 2.3% after Piper Sandler upgraded the maker of gene sequencing technology to an overweight rating. "llumina is well-positioned as the leader in NGS [next-generation sequencings], and we believe it can maintain and grow its position by continuing to lower sequencing costs and taking advantage of datascienceadvancestoimproveshort-readperformance," the firm said in a note to clients.

with reporting from CNBC's Jesse Pound, Pippa Stevens and Tom Franck.

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Stocks making the biggest moves midday: Peloton, Apple, IAC, CarMax and more - CNBC