Midday movers: Walt Disney, Tesla, Meta Platforms and more

By Liz Moyer

Investing.com -- Stocks were extending last week's fall on recession fears after the Federal Reserve's signal that rates would stay higher for longer. Here are the midday movers for Dec. 19.

• Walt Disney Company (NYSE:DIS) shares were down 4.4% after the movie studio's Avatar: The Way of Water debuted in theaters over the weekend with domestic box office sales of $134 million, falling slightly short of expectations.

• Tesla Inc (NASDAQ:TSLA) shares rose more than 3.3% and then gave back nearly all of that, trading up 0.1%. On Sunday, CEO Elon Musk polled his 122 million Twitter followers if he should step aside as the CEO of the social media platform, and a majority voted yes. That could come as a relief to Tesla shareholders, who have worried that Twitter is a distraction from Tesla. Shares of the EV maker are down 57% this year.

• Meta Platforms Inc (NASDAQ:META) shares fell 3.8% after the European Union said the Facebook owner might be violating antitrust rules in relation to its online classifieds business and could face a fine.

• Warner Bros Discovery Inc (NASDAQ:WBD) shares were down 8%, extending losses from last week after the media company raised its expectations for restructuring costs by $1B.

• Wynn Resorts Limited (NASDAQ:WYNN) shares were down 5%. The casino operator has entered a 10-year agreement to renew its license in Macau, the Chinese gambling mecca. But China has also been grappling with a surge in COVID-19 that could threaten tourism.