In this photo illustration the Netflix logo seen displayed on a smartphone screen with a graphic representation of the stock market in the background.
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Check out the companies making headlines in midday trading.
Netflix — The streaming giant gained 5.1% after a double upgrade to buy from sell by CFRA. The company said it was difficult for competitors to catch up.
Cal Maine Foods — Cal Maine shares fell 14.5% after reporting earnings that fell short of Wall Street’s expectations, even as the egg producer reported record sales. The company said the bird flu outbreak has reduced supply and pushed up prices.
Southwest Airlines — The airline’s stock rose 3.7%, reversing losses from the previous session when it fell more than 5%. Severe disruptions at Southwest Airlines have drawn exaggerated criticism from frustrated travelers who have grappled with thousands of canceled airline flights this week because of winter weather. Southwest Airlines canceled another 60% of its flights on Wednesday. The full schedule is expected to be restored on Friday, according to The Dallas Morning News.
Lockheed Martin — The defense company’s stock rose almost 1% after it was announced that its Sikorsky unit is contesting a US Army helicopter contract awarded to Textron. It said proposals for the $1.3 billion contract had not been fairly evaluated. Textron shares were last up 1.8%.
Tesla — Tesla shares are up more than 8% in previous sessions and up 37% this month after selling off. The stock is heading for one of its worst months, quarters and years on record.
Apple — The iPhone maker’s stock rose almost 3% after hitting its lowest level since June 2021 earlier in the week.
General Electric – Shares rose 2.2% on news that General Electric’s healthcare spin-off will be included in the S&P 500 when it trades separately on Jan. 4. GE Healthcare will replace Vornado Realty Trust, which is set to be included in the S&P MidCap 400.
ImmunoGen — Shares rose 5.5% after the biotechnology company announced that CFO Susan Altschuller would not be returning from her free time. Renee Lentini, vice president and chief accounting officer, has been appointed interim CFO. The stock initially fell in pre-market trading.
TG therapeutics — The biopharmaceutical stock rose 22.9% after announcing that the U.S. Food and Drug Administration approved its drug to treat relapsing-remitting multiple sclerosis. The drug, known as Briumvi, is slated to hit the market in the first quarter of 2023.
– CNBC’s Alex Harring and Sarah Min contributed coverage