Take a look at the companies making headlines in midday trading: Hewlett Packard Enterprise — The tech hardware stock jumped 6% after Bank of America upgraded the stock to a buy rating from neutral. The Wall Street firm believes the stock's valuation is now “attractive,” while highlighting several positive catalysts including potential cost-cutting initiatives from new Chief Financial Officer Mary Myers and a cyclical recovery in servers, storage and networking. Microsoft — The stock rose nearly 1% after the tech giant announced a quarterly dividend hike. The company raised it 10.7% to 83 cents per share, which will be payable on Dec. 12. Microsoft also approved a new share repurchase program worth up to $60 billion. Intel — The chipmaker jumped nearly 5% after it announced plans to spin off its foundry business into a separate entity. The company also received $3 billion in funding from the Biden administration through the CHIPS Act on Monday. Shopify – The e-commerce stock rose nearly 2% after receiving an upgrade from Neutral to Buy at Redburn Atlantic. The firm thinks Shopify is well positioned to benefit from growth in the U.S. social e-commerce market over the next few years. Flutter Entertainment – The online sports betting company behind FanDuel said it will buy Playtech’s Italian gambling business Snetec for 2.3 billion euros, or $2.56 billion in cash. Shares rose more than 2%. AppLovin – The mobile software stock gained nearly 6% after UBS upgraded it to Buy from Neutral. The bank cited opportunities for AppLovin in gaming and e-commerce as potential catalysts. Gannett – Shares gained 16% after Citi upgraded the newspaper stock to a Neutral rating from a Sell. The bank expects Gannett to slow its rate of topline decline and generate “flatish revenue growth” in the fourth quarter, ultimately leading to multiple expansion. Carvana – The used-car seller added 2% after it was upgraded to Buy from Neutral. “With efficiency gains and a relatively large fixed-cost base relative to the Internet, we expect CVNA to sustain recent improvements in unit economics and leverage as growth accelerates,” analyst Michael McGovern said. GE Vernova – The energy stock rose nearly 4% after Bank of America upgraded the stock to Buy from Neutral. Analyst Andrew Obin said GE Vernova's gas power services, which make up 29% of its revenue, are “underappreciated by investors.” Philip Morris International – Shares fell 2% after the tobacco company announced the sale of its pharmaceutical unit Vectura Group to Molex Asia Holdings. Philip Morris acquired Vectura, which specializes in inhaled drugs, in 2021. Accenture — Shares fell 4% after a Bloomberg report, citing people familiar with the matter, said the professional services company would move the bulk of its promotions to June from December. — CNBC’s Sean Conlon, Yun Lee, Sarah Min and Samantha Subin contributed reporting.