Midday Movers: Wynn Resorts, Align Technology, Newell Brands and More

By Liz Moyer

Investing.com -- Stocks were lower on Monday as investors awaited the Federal Reserve's rate decision this week, as well as data on jobs. Here are the midday movers for Oct. 31:

• Wynn Resorts Limited (NASDAQ: WYNN) stock jumped 10% after the disclosure that billionaire Tilman Fertitta had taken a 6.1% stake in the casino and resort operator.

• Align Technology Inc (NASDAQ: ALGN) stock rose 3.8% after the maker of Invisalign announced a $200 million accelerated stock buyback under its $1 billion program.

• Newell Brands Inc (NASDAQ: NWL) shares fell 7.6% after the owner of brands such as Yankee Candle and Rubbermaid caught a downgrade from analysts at Barclays to underweight from equal weight.

• ON Semiconductor Corporation (NASDAQ: ON) shares fell 6.9% after the chip company beat expectations for profit and revenue but provided an outlook that calls for a dip in revenue from the sequential quarter.

• Meta Platforms Inc (NASDAQ: META) shares fell 6% as the Facebook parent and other big tech stocks weighed on the indexes, dragging the Nasdaq down 0.7%.

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