Take a look at the companies making headlines in midday trading. Flutter Entertainment – FanDuel’s sports betting stock rose more than 6% after its parent company announced a stock buyback plan of up to $5 billion. The company also expects total revenue to grow by about $21 billion in 2027. The Wall Street firm said growing demand for artificial intelligence servers will give HPE a boost and it was bullish on growth from the Juniper deal. HPE agreed to acquire Juniper Networks for about $14 billion, with the deal expected to close by the end of this year. General Motors Co., Ford Motor Co. – Shares of both companies fell after downgrades from Morgan Stanley, which said deteriorating U.S. consumer credit and growing auto production capacity in China were causing the automakers’ market share to decline. General Motors shares fell 5.7% after analyst Adam Jonas downgraded General Motors’ stock rating to “underweight” from “equal weight.” Shares fell 4.3%. Bilibili — U.S.-listed Chinese internet stocks fell 2.6%, giving up some gains after rising 17% on Tuesday. JPMorgan named the stock a top pick among Chinese digital entertainment stocks on Tuesday. Bank of America shares fell nearly 1% after Warren Buffett’s Berkshire Hathaway sold another of his stakes in the bank. The moves bring his total sales since mid-July to about $9 billion and his stake to 10.5%. KB Home – The homebuilder reported lower-than-expected third-quarter profit, sending shares down nearly 5%. KB Home reported earnings of $2.04 per share, 2 cents below consensus estimates, according to analysts surveyed by LSEG. KB Home’s home gross margin also declined from the same period last year. Progress Software — The software applications company reported fiscal third-quarter adjusted earnings of $1.26 per share on revenue of $178.7 million, sending its shares up 13%. Analysts had expected earnings of $1.14 per share on revenue of $176.2 million, according to FactSet. Cintas — Shares rose 2%. Cintas raised its fiscal 2025 guidance. The company expects earnings per share this year to be in a range of $4.17 to $4.25, up from its previous forecast of $4.06 to $4.19. The workplace uniform company expects fiscal 2025 revenue of $10.22 billion to $10.32 billion, compared with previous guidance of $10.16 billion to $10.31 billion. Trump Media & Technology Group — Shares of Trump Media & Technology Group rose more than 7% on Wednesday following a post-lockdown sell-off earlier this week. —CNBC’s Sean Conlon, Yun Li, Alex Harring, Hakyung Kim, Lisa Han and Pia Singh contributed reporting
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