Stocks are trading lower midday.

The S&P 500 slipped 0.11%, with the tech-focused Nasdaq Composite edging down 0.03%. The Dow Jones Industrial Average declined by 0.47%, and the Russell 2000 Index gave up 1.49%.

Bitcoin, which reports say could benefit from relaxed regulation under the new Trump administration, climbed another 3% to $89,204. It has gained 17% over the past five days.

S&P 500 big stock movers today

Five S&P 500 stocks making big midday moves are:

• Tyson Foods  (TSN)  +8.3%

• Dexcom  (DXCM)  +5.4%

• Live Nation (LYV)  +4.5%

• Adobe  (ADBE)  +4.3%

• Honeywell (HON)  3.1%

The worst-performing five S&P 500 stocks with the largest midday drop are:

• Mosaic  (MOS)  -8.4%

• Super Micro Computer  (SMCI)  -6.1%

• Tesla  (TSLA)  -5.9%

• FMC  (FMC)  -5.8%

• Western Digital  (WDC)  -5.8%

Stocks also worth noting include:

• Nvidia  (NVDA)  +1.8%

• Apple  (AAPL)  +0.2%

• Shopify  (SHOP)  +25%

• GE Vernova  (GEV)  -5.9%

• Coinbase (COIN)  -1.1%

Shopify soars on earnings and outlook

Shopify shares surged more than 25% after the e-commerce-tech giant reported better-than-expected Q3 revenue and forecast a robust holiday season. The stock is likely to see its best day ever.

The e-commerce platform operator earned 64 cents a share, up 16%. It also posted revenue of $2.16 billion, up 26% and topping Wall Street’s $2.12 billion estimate. The company posted operating profit of $283 million, more than double the $122 million in the year-earlier quarter.

Related: Analysts revise Shopify stock price targets ahead of the holidays

Shopify expects Q4 revenue to grow in the mid- to high-twenties, beating analysts’ forecasts of 22.8%.

"As the busiest shopping season of the year for our merchants approaches, they trust Shopify to provide the tools, unmatched speed, and reliability to maximize their success," Shopify President Harley Finkelstein said.

Honeywell higher after Elliott takes stake

Honeywell climbed 3% after investment firm Elliott Management disclosed a $5 billion stake and urged the group to split into two entities.

The investor recommended that Honeywell should separate its aerospace and automation divisions.

Related: Analysts reboot stock price target for GE Aerospace after earnings

Elliott Managing Partner Jesse Cohn and Partner Marc Steinberg wrote in a Tuesday letter that “the conglomerate structure that once suited Honeywell no longer does.”

Cohn and Steinberg argued that Honeywell’s structure has become a liability. They estimate a potential 75% increase in value over the next two years if the company were to separate the aerospace and automation divisions.