Here’s a look at the companies making headlines in midday trading: McDonald’s — The fast-food stock fell more than 5% after the Centers for Disease Control and Prevention said an E. coli outbreak was linked to the chain’s Quarter Pounder burger. The outbreak resulted in 10 hospitalizations and one death, the CDC said. Walmart – The retail stock rose nearly 1% on Wednesday, hitting a record high and breaking a broader market decline. Walmart shares are up 57% in 2024, outperforming the S&P 500, which is up nearly 22%. Boeing — The troubled aerospace stock fell nearly 3% after reporting its largest quarterly loss since 2020. Boeing reported a third-quarter loss of more than $6 billion, with its commercial aircraft division alone losing more than $4 billion. Qualcomm, Arm Holdings – Qualcomm shares fell nearly 3% after Bloomberg reported that British chip designer Arm planned to cancel its licensing agreement with the company. Arm shares fell 6%. Stride – The stock soared more than 33%. The education technology company reported fiscal first-quarter net income of $40.9 million on revenue of $551.1 million. In the same period last year, the company’s net profit was US$4.9 million on revenue of US$480.2 million. Hilton Worldwide Holdings — The hotel giant reported third-quarter revenue of $2.87 billion, missing the $2.91 billion expected by analysts polled by LSEG, sending its shares down 2.7%. Hilton, on the other hand, reported adjusted earnings of $1.92 per share, beating consensus estimates by 7 cents. But the company also issued weak guidance for adjusted profit for the quarter. Spirit Airlines – Frontier Airlines is seeking to reacquire Spirit Airlines, sending its shares soaring 35% after the Wall Street Journal reported, citing people familiar with the matter. Enphase Energy – The green energy stock fell 13% after reporting a weaker-than-expected earnings report. Enphase said it had revenue of $380.9 million and adjusted earnings per share of 65 cents. Analysts polled by London Stock Exchange Group (LSEG) expected earnings of 77 cents per share on revenue of $392 million. Enphase’s fourth-quarter revenue guidance also came in below expectations. AT&T — Shares of AT&T rose 4% after third-quarter profit beat analysts’ expectations. AT&T reported adjusted earnings of 60 cents per share, while analysts polled by LSEG expected 57 cents. Revenue missed Wall Street expectations. Texas Instruments — The semiconductor company’s third-quarter revenue and profit beat analysts’ expectations, sending shares up more than 3%. Texas Instruments reported $1.47 a share on revenue of $4.15 billion, while analysts polled by LSEG forecast $1.38 a share on revenue of $4.12 billion. Coca-Cola — Shares fell 2% after the company said it expects currency headwinds to hurt next year’s results. Still, Coca-Cola’s third-quarter revenue and profit beat analysts’ expectations. Seagate Technology — Shares were down about 8% in midday trading. The data storage company issued fiscal second-quarter revenue guidance that was broadly in line with Wall Street expectations. Earnings per share for the current quarter are expected to be $1.85, exceeding the $1.72 per share forecast by analysts surveyed by LSEG. Winnebago Industries — Recreational vehicle stocks fell nearly 9%. Adjusted earnings per share for the fiscal fourth quarter were 28 cents, below the 89 cents per share forecast by analysts polled by FactSet. —CNBC’s Sarah Min, Lisa Han, Alex Harring, Sean Conlon and Jesse Pound contributed reporting.
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