Stocks making the biggest moves midday: Apple, Arm Holdings, Broadcom, UnitedHealth & more

Here are the stocks posting the biggest moves in midday trading. Apple — The second-largest public company in the U.S. dropped nearly 4% Tuesday, leading the S & P 500 lower, after Nikkei Asia said Apple has suffered “setbacks in the engineering test phase” for its planned foldable version of the iPhone that could hurt mass production and product shipments. Bloomberg News, however, cited people familiar with the matter saying the foldable model was on track for release later this year. Universal Music Group — U.S. shares of the recorded music distributor surged almost 13% after hedge fund investor Bill Ackman’s Pershing Square Capital Management on Tuesday offered to buy Universal in a cash and stock deal worth about 55.8 billion euros ($64.4 billion). Arm Holdings — The semiconductor company fell more than 4% after Morgan Stanley downgraded the stock to equal weight from overweight. The bank said the company’s strategic pivot to chips amid the artificial intelligence buildout will take time, and investor focus on near-term risks like higher research and development costs and dynamic random-access memory shortages could weigh on the stock. Broadcom , Alphabet — Broadcom on Monday said it agreed to supply artificial intelligence chips for Google and signed an expanded deal with Anthropic to give the AI startup about 3.5 gigawatts worth of computing capacity from Google’s AI processors. Broadcom shares gained 4%, while Alphabet was slightly higher by 0.9%. Oil stocks — The group was mostly higher, with West Texas Intermediate crude futures for May delivery trading above $114 a barrel ahead of U.S. President Donald Trump’s threat to attack Iran’s civil infrastructure by 8 p.m. ET on Tuesday. Chevron added more than 1%. Diamondback Energy was last up about 2%. Health care stocks — A slew of companies bounced after the Center for Medicare & Medicaid Services finalized its proposed payment increase to privately run Medicare Advantage plans, which was higher than its initial proposal in January that kept payments flat and sent insurers’ stocks tumbling. UnitedHealth jumped 10%, while Humana and CVS Health advanced 8% and 7%, respectively. Travel stocks — Shares of cruise operators and airlines were lower as oil prices remained elevated on Tuesday. Norwegian Cruise Line was last down more than 5%, while Carnival and Royal Caribbean gained about 4%. United Airlines and American Airlines were last up 3.5% and 2%, respectively. Delta Air Lines jumped 1.5%. — CNBC’s Michelle Fox, Davis Giangiulio, Scott Schnipper and Darla Mercado contributed reporting Markets shift and headlines fade, but the core principles of building long-term wealth remain constant. Join us for our third CNBC Pro LIVE, where investors of all backgrounds - from financial professionals to everyday individuals - come together to cut through the noise and gain actionable strategies for smarter, more disciplined investing. No matter where you’re starting from, you’ll leave with clearer thinking, stronger strategies. Enter your email here to get a discount code.