Check out the companies making headlines in midday trading. Holley — Shares of the auto parts manufacturing company added 5.6% following an upgrade by Jefferies to buy from hold. The investment bank predicts Holley’s sales will ramp up in the fourth quarter and thinks the stock is trading at a significant discount to historical averages. Target — Shares of the retailer surged 17% after Target’s fiscal third-quarter earnings came in much stronger than expected. The company reported $2.10 in earnings per share on revenue of $25.4 billion. That topped the earnings of $1.48 per share and revenue of $25.24 billion projected by analysts, according to LSEG. Target’s comparable sales declined for the second straight quarter, however. V.F. Corp — The North Face and Vans parent popped 12% on the back of an upgrade to neutral from underweight by JPMorgan. The firm said the company could see a boost to profit due to cost-saving measures. The rally builds on Tuesday’s gain of 10%. Expedia — The online travel company added 6.5%, reaching a new 52-week high. Reuters reported that ValueAct Capital Management acquired stakes in the company. Dollar Tree — Shares gained nearly 3% in midday trading. UBS analyst Michael Lasser on Wednesday said Dollar Tree’s third-quarter results , set to release later this month, will “support the bull case” for the company and help it “re-establish some credibility with the market.” The stock is down 14% this year. Generac — The power generator company jumped almost 4% after Bank of America upgraded shares to neutral from underperform by Bank of America. The firm cited “fewer lingering risks” into next year than it previously anticipated. Disney — Shares of the media conglomerate added 3.5% on Wednesday after Deutsche Bank said it is confident in Disney’s growth throughout 2024 and 2025. The firm cut its price target on the stock, however, and lowered its 2024 earnings estimates on the company. JD.com — Shares of the Chinese e-commerce company jumped more than 8% after posting third-quarter adjusted earnings that came in ahead of analysts’ expectations. Net revenues also rose from the year ago period. Management cited price competitiveness and supply-chain advantages for the company’s results. Sirius XM — Shares rallied about 7% after a regulatory filing showed Berkshire Hathaway held shares of the satellite radio company through the end of the third quarter. Catalent — The pharmaceuticals company jumped 12% Wednesday after posting a narrower-than-expected loss per share and a revenue beat in the fiscal first quarter. Catalent executives said the company expects significant new capacity for the production of weight loss drugs to come online between fiscal years 2024 and 2026. American Eagle Outfitters — Shares of the retailer rose 5% after Bank of America upgraded the company to neutral from underperform. The firm anticipates near-term momentum driven by stronger-than-expected revenues. Energizer — The stock tumbled more than 7%. JPMorgan downgraded Energizer to underweight from neutral in a Wednesday note on concerns over the company’s weaker-than-expected guidance for its fiscal first quarter and the full year. — CNBC’s Michelle Fox, Jesse Pound, Sarah Min, Pia Singh and Alex Harring contributed reporting
Stocks making the biggest moves midday: TGT, EXPE, GNRC, CTLT
