Check out the businesses making headlines in noon buying and selling Wednesday.
Victoria’s Secret — Shares of Victoria’s Secret jumped more than 10% after the intimate attire retailer introduced a $250 million accelerated share repurchase program. The firm additionally reaffirmed fourth-quarter steering supplied in November, together with an as much as 3% enhance in gross sales versus final 12 months’s fourth-quarter gross sales of $2.10 billion.
Didi Global — Shares of the Chinese ride-hailing agency fell 7.8%, persevering with a brutal month for the inventory. Reuters reported Wednesday that Didi is planning to record its inventory in Hong Kong in mid-2022 with out issuing more shares or elevating extra capital.
Tesla — Tesla shares dipped 1.2% after monetary filings revealed late Tuesday confirmed CEO Elon Musk bought one other 934,090 shares — or about $1.02 billion price of his holdings — within the electrical automotive firm.
Alibaba — Alibaba shares fell 3% after Bloomberg reported the Chinese e-commerce large is contemplating the sale of its 30% stake in social media firm Weibo to state-owned Shanghai Media Group. Weibo shares retreated 4.3%.
American Airlines — Travel-related shares struggled after rebounding within the earlier session, because the omicron Covid variant continued to affect market motion. American Airlines and Alaska Air every pulled again more than 1%. United Airlines additionally slid round 1%.
Cal-Maine Foods — Shares of Cal-Maine Foods fell more than 4% after the egg producer reported weaker-than-expected quarterly outcomes. The firm earned 2 cents per share for its newest quarter, properly in need of the 30-cent Refinitiv consensus estimate. Higher manufacturing prices and feed prices bit into revenue, Cal-Maine Foods reported.
— CNBC’s Tanaya Macheel and Jesse Pound contributed reporting