News Netflix, Cal-Maine Foods, Southwest, and more

In this photo illustration, the Netflix logo is displayed on a smartphone screen against a graphic representation of the stock market in the background.

Sopa Pictures | Light Rocket | Getty Images

Check out the companies making headlines in midday trading.

Netflix — The streaming giant jumped 6.3% after CFRA double-upgraded it from sell to buy. The company said it will be difficult for competitors to catch up with the company.

California Maine Foods — Shares of Cal-Maine fell 15% after the egg producer reported record sales but earnings that fell short of Wall Street expectations. The company said the bird flu outbreak had limited supply and pushed up prices.

Southwest Airlines — Airline stocks rose more than 3 percent, paring losses of more than 5 percent in the previous session. Southwest Airlines’ severe disruption has drawn sharp criticism from frustrated travelers who dealt with thousands of airline canceled flights this week due to winter weather. Southwest Airlines canceled another 60% of its flights on Wednesday. The full schedule is expected to resume on Friday, the Dallas Morning News reported.

lockheed martin — Shares of the defense contractor rose nearly 1% after news that its Sikorsky division was vying to award Textron the U.S. Army helicopter contract. The company said the $1.3 billion contract proposal had not been fairly evaluated. Textron shares were last up 1.9%.

tesla — Shares of Tesla are up more than 7% after selling off in previous sessions and are up 37% for the month. The stock is coming off one of its worst months, quarters and years on record.

apple — Shares of the iPhone maker rose more than 3% after hitting their lowest level since June 2021 earlier this week.

General Electric — Shares of General Electric rose 1.7% on news that General Electric’s healthcare business will join the S&P 500 when it begins trading alone on Jan. 4. GE Healthcare will replace Vornado Realty Trust, which will join the S&P MidCap 400 Index.

immunogen — Shares rose 6.2% after the biotech company announced Chief Financial Officer Susan Altschuller would not be returning from leave. Vice President and Chief Accounting Officer Renee Lentini has been named interim Chief Financial Officer. The stock initially fell in premarket trading.

TG therapy — The biopharmaceutical stock soared more than 29% on news the U.S. Food and Drug Administration approved its drug to treat relapsing forms of multiple sclerosis. The drug, called Briumvi, is expected to launch in the first quarter of 2023.

– CNBC’s Alex Harring and Sarah Min contributed reporting

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button