Stocks making the biggest moves midday: Oracle, Amazon, Kohl's, Penn National Gaming and more

Check out the companies making headlines in midday trading. 

Oracle — Shares of Oracle rose 2.2% on news the company is discussing a deal for TikTok's U.S., Canada, Australia and New Zealand operations, sources told CNBC. Oracle and Microsoft are far ahead of other companies that have expressed interest in ByteDance's social media company, the source said.

Kohl's — Shares of Kohl's tanked 14.7% after the retailer offered a grim outlook ahead of the all-important holiday season. Chief Executive Michelle Gass said the company is planning for the crisis to continue to impact its business in the near-term. Kohl's revenue fell 23% to $3.21 billion during the fiscal second quarter, but it was better than the $3.09 billion expected, according to Refinitiv. It also reported a narrower quarterly loss than expected. Macy's and Nordstrom dipped alongside the retailer. 

Amazon — Shares of the e-commerce giant rose 4.1% on Tuesday, helping the S&P 500 notch a record high earlier in the day. Mega-cap technology darlings like Amazon have led the S&P 500 more than 50% from its March low and helped erase all of the index's coroanvirus related losses. 

Boeing — Shares of Boeing dipped 1% after the planemaker said it will be offering a second voluntary layoff package to employees to depart the company with pay and benefits. CEO Dave Calhoun said the move will extend the company's layoffs beyond the initial 10% target. Boeing continues to suffer from devastated travel demand amid the pandemic.

Home Depot — Home Depot posted blowout results for its fiscal second quarter as consumers took on more "do-it-yourself" projects during the pandemic. The company posted earnings per share of $4.02 on revenue of $38.05 billion. Analysts expected a profit of $3.71 per share on revenue of $34.53 billion, according to Refiniti. However, Home Depot shares slid 1.1%.

Walmart — Walmart shares dipped 0.7% even after the biggest U.S. retailer posted stronger-than-expected results for the previous quarter. The company posted a profit of $1.56 per share on revenue of $137.74 billion. Analysts polled by Refinitiv expected earnings per share of $1.25 per share on revenue of $135.48 billion. Those results were driven in part by a 97% surge in online sales. However, the company also noted that consumer spending dropped during the quarter as U.S. stimulus checks ran out.

Penn National Gaming — Shares of the casino and gaming company rose 3.8% after Truist raised its price target on the stock to $62 per share from $50 per share. The firm said in a note that the strategic benefits of the partnership with Barstool Sports is "increasingly evident" and that the launch of a new sports app this fall could be a positive catalyst.

Tesla — Tesla shares rose 2.8% on Tuesday, building on their recent momentum since the electric car maker announced a five-to-one stock split that is set to take effect on Aug. 31.

Advance Auto Parts— Shares of Advance Auto rose 1.2% following its better-than-expected quarterly results. The company reported earnings of $2.92 per share on revenue of $2.5 billion. Wall Street expected earnings of $1.98 on revenue of $2.28 billion, according to Refinitiv. Same-store sales rose 7.5%, topping estimates of 2.6% growth. 

— with reporting from CNBC's Yun Li, Jesse Pound and Fred Imbert.