The Disney Store is seen in New York City’s Times Square.
Nick Pfosi | Reuters
Learn about the companies making headlines in mid-day trading.
nike Nike shares fell more than 5% even after sportswear company Wall Street’s earnings and sales tops expectations For the fiscal fourth quarter. The company said it anticipates slightly more than flat revenue for its fiscal first quarter versus prior year, and low double-digit revenue for the full year 2023 on a currency-neutral basis.
Walt Disney — Disney shares rose more than 1% after Shanghai Disneyland reopened this week. The move comes after China eased its COVID restrictions for incoming travelers, cutting their quarantine time on arrival in half to seven days.
Las Vegas Sands, Wynn Resorts – The easing of COVID restrictions in China boosted casino stocks. Shares of Las Vegas Sands and Wynn Resorts each gained more than 5%.
United Airlines, Delta Airlines, American Airlines Airlines boomed after China reduced Covid quarantine times for foreign travelers. Shares of United, Delta and American each rose more than 1%.
Boston Beer – Shares fall more than 3% after Boston Beer got a downgrade to sell From Goldman Sachs. Analysts said the lack of popularity of the Truly Hard seltzer brand and the lack of an upcoming product line, curbs momentum at the brewer.
farfetch – Online luxury retailer’s stock down 9% Downgrade from UBS to Neutral, The firm’s analyst said the expectations for the company in a downturn are too optimistic.
Spirit Airlines — Low-cost airline shares rise more than 1% after JetBlue Airways again increased its takeover offer, JetBlue’s latest attempt to win over Spirit comes ahead of a shareholder vote on the current deal between Frontier and Spirit.
Morgan Stanley Shares rose more than 1% after Morgan Stanley increased its dividend by 11%, joining several other banks that boosted payouts after passing the Federal Reserve’s annual stress test. Bank of America and Wells Fargo ticked up on Tuesday.
Occidental Petroleum Energy stock jumps 2.8% on news that Warren Buffett’s Berkshire Hathaway increased its stake in the company by $44 million, Less than a week after the security filing revealed that Berkshire Bought an additional 9.55 million shares in Occidental Petroleum.
Robin Hood – Trading platform stock fell nearly 2% after FTX CEO Sam Bankman-Fried Close up of a Bloomberg News report that FTX is reportedly Interested in buying Robinhood, telling CNBC has no active M&A talks in the works,
platica – Shares fell more than 6% axios report said that private equity firm Joffrey Capital will buy a majority stake in the gaming company.
— CNBC’s Yun Lee, Tanaya Machil and Samantha Subin contributed reporting