Stock Groups

Victoria’s Secret, Tesla, Didi and more

[ad_1]

See which companies are making the headlines Wednesday in midday trading.

Victoria’s Secret — Shares of Victoria’s Secret jumped more than 10% after the intimate apparel retailer announced a $250 million accelerated share repurchase program.In November, the company reiterated its fourth-quarter guidance. It included an increase of up to 3 percent in sales over last year’s $4.10 billion.

Didi Global — Shares of the Chinese ride-hailing firm fell 7.8%, continuing a brutal month for the stock. Reuters reported WednesdayDidi plans to list its Hong Kong stock in the middle of 2022, without issuing any additional shares or raising capital.

Tesla — Tesla shares dipped 1.2% after financial filings published late Tuesday showed CEO Elon Musk sold another 934,090 shares — or about $1.02 billion worth of his holdings — in the electric car company.

Alibaba — Alibaba shares fell 3% after Bloomberg reportedThe Chinese giant of e-commerce is looking at selling its 30% share in a social media company Weibo to state-owned Shanghai Media Group. Weibo shares fell 4.3%

American Airlines — Travel-related stocks struggled after rebounding in the previous session, as the omicron Covid variant continued to influence market action. American Airlines, Alaska Air and Alaska Air each lost over 1%. United Airlines was also down 1%.

Cal-Maine Foods — Shares of Cal-Maine Foods fell more than 4% after the egg producer reported weaker-than-expected quarterly results. For its most recent quarter, the company made 2 cents per share. This is well below the consensus 30-cent Refinitiv estimate. Cal-Maine Foods stated that higher production costs and feed cost impacted profit.

— CNBC’s Tanaya Macheel and Jesse Pound contributed reporting

[ad_2]