Here’s a look at the companies making headlines in midday trading: Alcoa — Alcoa CEO William Oplinger said Wednesday the U.S. is imposing tariffs on Canadian imports It would increase aluminum costs by $1.5 billion to $2 billion annually and increase trade costs with Canada and Mexico, which would harm domestic supply chains and the automotive market. Alcoa is the largest aluminum producer in the United States. American Airlines — Shares of American Airlines fell 8% after the airline reported a disappointing first-quarter outlook. The company said it expected an adjusted loss of 20 cents to 40 cents per share. Analysts surveyed by London Stock Exchange Group (LSEG) had expected a loss of 4 cents per share. Elevance Health — Shares of Elevance rose 1.3% after the health insurance company beat fourth-quarter estimates. The company reported adjusted earnings of $3.84 per share on revenue of $45 billion, slightly above the FactSet estimate of $3.81 per share on revenue of $44.92 billion. Electronic Arts — Shares of Electronic Arts fell 17% after the video game publisher lowered its third-quarter and full-year net bookings guidance. Electronic Arts blamed the shortfall for underperforming games like its football series. Plexus — Aftermarket electronics stock fell 9% after the company reported a disappointing second-quarter revenue outlook. Plexus expects revenue in the range of $960 million to $1 billion, below analysts’ forecasts of $1.02 billion, according to FactSet. AST SpaceMobile — Shares of AST SpaceMobile fell more than 14% after the satellite company announced a $400 million convertible note offering. GE Aviation – Shares of GE Aviation rose nearly 7% after the company reported better-than-expected fourth-quarter profit and revenue. The defense and aerospace company reported adjusted earnings of $1.32 per share, above the $1.04 expected by analysts polled by LSEG. GE Aviation’s revenue of $9.88 billion also beat estimates of $9.51 billion. Guidewire Software — Shares of Guidewire Software rose 9.9% after Goldman Sachs initiated a buy rating on the company. Goldman Sachs said Guidewire Software, which provides a cloud-based software platform to insurers focused on property and casualty, will outperform as cloud adoption among insurers continues to grow. Union Pacific — Shares of Union Pacific rose nearly 5% after the railroad reported fourth-quarter profit that beat Wall Street expectations. LSE earnings were $2.91 per share, compared with analysts’ forecasts of $2.78 per share. Revenue was $6.12 billion, below expectations. Analysts expected the financing amount to be $6.14 billion. Alaska Airlines — Shares of the airline rose more than 4%. Alaska Airlines’ fourth-quarter adjusted earnings per share were 97 cents, topping analysts’ forecasts of 47 cents, according to FactSet. —CNBC’s Hakyung Kim, Jesse Pound, Samantha Subin, Lisa Han and Michelle Fox contributed reporting.
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