The largest stock price changes during the day were seen in Twitter, Starbucks, Tesla, and others.

Check out the companies making headlines in midday trading.

After Elon Musk revealed a 9.2% passive stake in Twitter worth about $2.9 billion, the social media company experienced a 27.1% increase in value. This came after Musk polled his 80-plus million Twitter followers about the platform's adherence to free speech principles. Additionally, Musk has hinted at starting his own site, which is sparking speculation among analysts that he could take a more active ownership in Twitter or even consider a takeover in the future.

Tesla's first-quarter electric vehicle deliveries exceeded 310,000, setting a new quarterly record, but fell short of Wall Street estimates by a small margin. The miss was attributed to Covid shutdowns in Shanghai, where Tesla has a significant factory.

The coffee chain experienced a 3.7% decline after suspending its share repurchase program. This decision was made as Howard Schultz returned as CEO and there was a growing union push from the company's baristas.

The U.S. stock market saw a surge in Chinese companies' shares after China proposed revising confidentiality rules regarding audit oversight. This move could prevent these companies from being delisted in the U.S. JD.com, Netease, Alibaba, and Tencent Music all experienced significant gains, with JD.com jumping 7.1%, Netease rising 2.4%, Alibaba gaining 6.6%, and Tencent Music adding 10.7%.

After Hertz announced a partnership with electric vehicle company Polestar, shares of the rental car company surged 10.7%. Under the deal, Hertz will purchase up to 65,000 electric vehicles over the next five years, according to a news release.

After Goldman Sachs upgraded the company to a "buy" from "neutral" and predicted significant profits from expanding gaming and videoconferencing trends, the stock price increased by 7%.

After Citi downgraded diagnostic information services company Quest from buy to neutral, shares slipped 1.3%. The downgrade was due to uncertainty about the company's post-pandemic model. Citi cited Quest's margin outlook for this and next year, as well as heightened labor pressures and volume declines, as reasons for the downgrade.

Goldman Sachs downgraded Baxter's stock to a sell rating from neutral, citing the company's "over-indexing to headwind variables and numbers being at risk." As a result, shares fell 4%.

After Wells Fargo upgraded Ollie's to overweight from equal weight, the retail stock experienced a 15.7% increase. The bank predicted that the stock could rebound like a "coiled spring" once the company overcomes its pandemic-related challenges.

The reporting for CNBC was done by Yun Li, Samantha Subin, Sarah Min, Jesse Pound, and Tanaya Macheel.