Here’s a look at the companies making headlines in midday trading: Disney — The media stock jumped 7% on stronger-than-expected earnings and guidance, driven by growth in its streaming business. The company said it expects adjusted earnings to grow by high single digits in fiscal 2025. Capri and Tapestry — Both luxury apparel stocks rose after the companies scrapped a planned merger, citing regulatory hurdles. Tapestry shares rose nearly 13% and Capri shares rose 2.5%. Hims & Hers Health — The telemedicine stock fell 14% after Amazon revealed that Prime users can now get fixed-price treatments for conditions like male pattern baldness. The product puts the company in direct competition with Hims & Hers Health. Super Micro Computer — Artificial intelligence server shares fell more than 6% and were on track for a fifth straight session of losses. The company said this week it was delaying its report for the period ending Sept. 30. The stock has fallen 22% since the start of the week and 34% since early November. ASML Holding — Shares rose 5% after the Dutch semiconductor equipment maker maintained its 2030 target at its 2024 Investor Day, driven by artificial intelligence and other key industry trends. Cisco Systems — The cybersecurity stock fell 1.9%. The company beat Wall Street forecasts for the quarter and raised its full-year guidance, but revenue fell for the fourth straight quarter. Revenue fell 6% year-over-year last quarter. Charles Schwab — Shares of the brokerage rose 3.6%. Schwab said total customer assets reached US$9.85 trillion in October, an increase of 39% year-on-year. Norfolk Southern — Shares of the rail operator fell 1% after reaching a settlement with activist Ancora to avoid a proxy fight. American Airlines — Shares of American Airlines rose more than 3% after Barclays upgraded the stock to equal weight from underweight, citing improved business travel conditions and improved credit card agreements. Campbell Soup — Shares of Campbell Soup rose more than 1% after Piper Sandler upgraded the consumer staples company to an overweight rating, citing its recent acquisition of sauce maker Rao’s and its promising growth prospects. Shares of Ibotta — the digital rewards platform — fell more than 16% on disappointing fourth-quarter guidance. Ibotta said it expected fourth-quarter revenue to be between $100 million and $106 million, compared with a FactSet forecast of $110.3 million. CNH Industrial — Shares of CNH Industrial rose more than 6% after Greenlight Capital’s David Einhorn revealed on CNBC’s Delivering Alpha conference that he holds a mid-cap position in the agricultural equipment company. Advance Auto Parts — Shares of Advance Auto Parts rose 6.3% after the auto parts supplier announced plans to close more than 500 corporate stores and 200 independent stores. It also plans to close four distribution centers. —CNBC’s Jesse Pound, Pia Singh, Alex Harring, Hakyung Kim and Sean Conlon contributed reporting.
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