A button for launching the Netflix application is seen on a remote control in this photo illustration in Warsaw, Poland on April 25, 2019.

Jaap Arriens | NurPhoto | Getty Images

Check out the companies making headlines in midday trading.

NetflixShares of the streaming video giant fell 6.5% after company missed earnings estimates gave guidance for subscriber growth that came in lower than Wall Street expected. The company also announced that Ted Sarandos would become co-chief executive officer.

Nio Shares of electric car maker Nio dropped more than 14% after a Goldman Sachs analyst downgraded them to sell. The analyst cited concern around Nio's valuation after the stock surged more than 60% last month. "We believe the current share price reflects over-optimism given no substantial changes to volume/profit expectations," the analyst wrote in a note.

BlackRockShares of the money manager jumped 3.3% after it beat estimates on the top and bottom lines for its second quarter. The company reported adjusted earnings per share of $7.85 on $3.65 billion of revenue, showing growth in performance fees and technology service revenue. Analysts surveyed by Refinitiv expected $6.99 in earnings per share and $3.54 billion of revenue.

Facebook, Amazon, Microsoft, Alphabet Alongside Netflix, the so-called FANG stocks slid, continuing technology stocks weakness this week. Facebook lost 0.5% and Alphabet dropped nearly 1%. Microsoft and Amazon lost 0.6% and 0.9%, respectively. All of the FANG stocks are headed for big weekly declines.

State StreetShares of State Street dropped 3.5% despite its better-than-expected quarterly earnings. The asset manager said it earned $1.86 per share in the latest quarter, helped by lower expenses and strong fee performance. Analysts polled by FactSet were expecting $1.58 a share.

J.B. Hunt Shares of JB Hunt Transport gained 3% after thetransportation and logistics company's second-quarter earnings beat expectations. Wall Street also grew more bullish on the company following the results. Deutsche Bank upgraded the stock to hold from sell, citing pricing benefits and a better macro backdrop. Citigroup, UBS and Morgan Stanley all raised their price targets on JB Hunt Friday.

Tesla Shares of the electric vehicle maker gained 1% after Credit Suisse doubled its target on the stock to $1,400 from $700. The firm maintained its neutral rating on the Elon Musk-led company, however. Shares of Tesla have more than tripled this year.

Carnival Corp., Norwegian Cruise, Royal Caribbean Cruises Shares of the major cruise line operators all dropped more than 1% after the CDC extended a no-sail order through the end of September. The order, which was first announced in March, was set to expire on July 24.

Regions Financial Shares of the company slid 3.2% after missing on its second quarter earnings. Third quarter net interest income guidance disappointed.

with reporting from Yun Li, Fred Imbert, Jesse Pound and Pippa Stevens.

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Stocks making the biggest moves midday: Netflix, Nio, BlackRock, Tesla and more - CNBC