Here’s a look at the companies making headlines in midday trading: Bath & Body Works — The Ohio-based personal care company’s shares jumped more than 16%, its best one-day gain since November 2022. It raised its full-year adjusted profit forecast, saying it expects annual sales to decline by a smaller margin, driven by strong demand for personal care products and new store products. Robinhood – Shares of the financial services provider surged 3.3% after Morgan Stanley upgraded the company to “overweight,” citing benefits from President-elect Donald Trump’s upcoming second term. Macy’s — Shares of Macy’s fell 2.2% after the New York-based retailer delayed the release of its full third-quarter results after discovering that an employee intentionally filled out incorrect accounting entries to conceal delivery charges. The errors occurred over several years and amounted to $154 million. Macy’s said the accounting issues did not appear to have impacted the company’s cash position. Meanwhile, third-quarter sales fell 2.4% to $4.74 billion. Target — The retail chain gained 4.4% after Oppenheimer named the stock a top pick, citing an improvement in the battered stock’s risk-reward bias. Target’s shares are down about 12% so far this year, and the stock’s 3.6% dividend yield is “attractive,” the company said. AGCO — Tractors and Farm Equipment Limited, the largest shareholder and board member with a 16.3% stake, filed for a split in the roles of chairman and chief executive officer. Shares in the agricultural equipment maker rose 2.7%. “His combined chairman and CEO roles failed to serve the best interests of shareholders and resulted in suboptimal strategic and capital allocation decisions,” the investor said. Gordon Haskett Research Advisors said on Monday: “Even if you own 16% For stocks, winning such a battle is unlikely. “Intel – shares rose more than 1%. Citing a person familiar with the matter, CNBC reported that the chipmaker is in talks with the Commerce Department to finalize $8 billion in funding through the CHIPS Act. US Bancorp — Shares of U.S. Bancorp rose more than 2% after Citigroup upgraded its rating to buy from neutral, Citigroup said US Bancorp’s spending is “coming out of the woods.” Abercrombie & Fitch — Shares of Abercrombie & Fitch rose 1.7% as the retailer is expected to report third-quarter earnings Tuesday morning. Analysts expected quarterly earnings of $2.39 per share on revenue of $1.19 billion, according to FactSet data. Gap last week raised its full-year guidance and said the holiday shopping season was off to a strong start, amid growing investor enthusiasm for the retailer. Arm Holdings — Shares of the British chip designer rose about 3%. UBS initiated a buy rating on the stock, saying the stock should benefit from growth in artificial intelligence-driven end markets and data center businesses. Santander — Spanish bank American depositary receipts rose 2%. Morgan Stanley upgraded Santander to overweight from equal weight, citing a “resilient regional footprint” and “improving capital generation prospects.” Super Micro Computer — The volatile artificial intelligence server stock gained nearly 16% last week after announcing BDO as its new auditor and providing a plan on how to maintain its Nasdaq listing. %. Scholar Rock Holding — Shares of Biohaven soared more than 26% after rival Biohaven said its T-alfa drug failed to achieve statistically significant results in treating spinal muscular atrophy. Piper Sandler, Truist Securities and Wedbush all raised their price targets on Scholar Rock in response. —CNBC’s Hakyung Kim, Jesse Pound, Yun Li, Michelle Fox, Pia Singh and Scott Schnipper contributed reporting.
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