Midday stock movers: Apple, PayPal, Cava, Progressive and more

Several stocks moved sharply in midday trading on Wednesday, including Apple, PayPal, Cava, Progressive and Micron. The report covered a mix of companyspecific developments, earnings results and analyst actions across technology, consumer and financial names. Apple rose after news that its Apple Intelligence service cleared a regulatory hurdle in China, while Alibaba and Baidu also gained on the prospect of partnering in the rollout. PayPal jumped after Reuters reported that Stripe and Advent had offered to acquire the company. Cava advanced after Morgan Stanley upgraded the stock, and BlackRock and Bank of New York Mellon climbed following earnings beats. Other names moved lower on weaker results or industry pressure. Micron and other memorychip makers fell as investors weighed increased competition from Chinese rivals, while Progressive declined after reporting a sharp drop in June income. Insurance, health care and industrial stocks also saw mixed reactions to earnings and guidance updates.