Stocks making the biggest moves midday: UPS, Qualcomm, Valero, JPMorgan & more

Stocks making the biggest moves midday: UPS, Qualcomm, Valero, JPMorgan & more

A UPS truck on its' delivery rounds in Washington, DC.

Bill O'Leary | The Washington Post | Getty Images

Here are the companies making headlines in midday trading:

UPS “” Shares of the delivery and logistics giant jumped more than 15% on the back of better-than-expected results for the previous quarter. UPS reported a profit of $2.13 per share on revenue of $20.46 billion. Analysts polled by Refinitiv expected earnings of $1.07 per share on revenue of $17.48 billion. The company said demand for home delivery drove the company's results.

Qualcomm “” Shares of the semiconductor company soared on Thursday morning, gaining more than 12%, after the company reported better-than-expected earnings for its fiscal third quarter and announced a settlement and licensing agreement with Huawei. Qualcomm said its agreement with the Chinese telecom giant would generate roughly $1.8 billion in revenue from the settlement and the licensing for previous quarters. 

Valero, Occidental, ConocoPhillips “” Sagging oil prices weighed on major energy stocks on Thursday. Shares of Valero sank more than 7%, while Occidental and ConocoPhillips fell 6.4% and 5.4%, respectively. 

Procter & Gamble “” Procter & Gamble shares rose more than 2% after the company reported stronger-than-forecast results for the previous quarter. The company earned $1.16