Check out the companies making headlines in midday trading: Baidu — The Chinese tech stock added 4% after a source familiar with the matter revealed that Baidu plans to release the next generation of its artificial intelligence model later this year. The source said that “foundational model” Ernie 5.0 will have “big enhancements in multimodal capabilities.” Micron Technology — Shares slid 3% following remarks from the semiconductor manufacturer at the Wolfe Semiconductor Conference on Tuesday morning. Micron said it had no updates to its second-quarter guidance, but does expect revenue growth in its fiscal third quarter. Kraft Heinz — The consumer stock shed 4%, on track for its worst day since May, after the firm’s earnings and outlook disappointed investors. Kraft Heinz said sales volumes slid by 4 percentage points from a year earlier amid shifting consumer behavior and a decline in its business in restaurants. The company noted that its weak forecast does not include the effect of rising tariffs, changes in food regulations or currency fluctuations. Firefly Neuroscience — The microcap AI stock, which works on mental illness and neurological disorders, surged 50% on Wednesday. The stock had previously gained 171% during Tuesday’s session on news that Firefly had been accepted into the Nvidia Connect Program. Mercury General — Shares popped almost 17% after the insurance company posted a fourth-quarter earnings and revenue beat. Mercury estimated its gross catastrophe losses from the California wildfires to come between $1.6 billion and $2 billion. Following its latest report, Raymond James upgraded shares to a strong buy. Westinghouse Air Brake Technologies — The transportation manufacturer tumbled 9% after missing analysts’ estimates for both its fourth-quarter adjusted earnings and revenue. Wabtec’s losses made it the worst-performing stock in the S & P 500 on Wednesday. Super Micro Computer — Shares of the server builder gained around 5% despite slashing its full-year revenue outlook for fiscal 2025. Super Micro now expects to bring in revenue between $23.5 billion and $25 billion, while analysts surveyed by LSEG had called for $24.92 billion. CEO Charles Liang also said he is “confident” Super Micro will be able to file its delayed annual report by Feb. 25. Upstart Holdings — The consumer lending platform surged around 33% following its better-than-expected first-quarter guidance. Upstart expects $200 million in revenue for the period, above the consensus estimate of $193.8 million that analysts were looking for, per LSEG. Upstart’s earnings and revenue for the fourth quarter also came in better than expected. CVS — The pharmacy retailer surged 15% after reporting fourth-quarter adjusted earnings of $1.19 per share on revenue of $97.71 billion. These numbers exceeded the profit of 93 cents per share on revenue of $97.10 billion analysts polled by LSEG had anticipated. DoorDash — Shares jumped 3%, their highest level since 2021, after the food delivery platform posted a top-line beat in the prior quarter. DoorDash reported revenue of $2.87 billion, while analysts surveyed by LSEG estimated $2.84 billion. Lyft — Shares slipped 2% after the ride-share operator reported fourth-quarter gross bookings of $4.28 billion, which was below the $4.32 billion analysts had penciled in, per FactSet. Lyft also said it expects between $4.05 billion and $4.20 billion in bookings in the current period, while consensus estimates had called for $4.24 billion. Zillow — The real estate marketplace tumbled 10% after providing weak first-quarter guidance. Zillow anticipates quarterly revenue between $575 million and $590 million, less than the $599.8 consensus estimate, according to FactSet. However, the company reported a revenue beat for its fourth quarter. Avis Budget Group — The car rental company lost 8% after reporting a fourth-quarter net loss of $2 billion, while its revenue of $2.71 billion came below FactSet’s consensus of $2.72 billion. Vertiv Holdings — The infrastructure stock slipped 9% after providing a weaker-than-expected forecast. Vertiv expects to earn an adjusted 57 cents to 63 cents per share in the current quarter, while analysts surveyed by FactSet had forecast a profit of 63 cents per share. The company expects adjusted earnings of between $3.50 and $3.60 for the full year, while analysts had forecast $3.57 per share. Compass Minerals — The industrial salt stock added 3% on the heels of JPMorgan’s upgrade to overweight from neutral. JPMorgan said Compass can benefit from this winter’s colder weather. Gilead Sciences — Shares advanced 7%. The pharmaceutics company posted fourth-quarter results that exceeded expectations on the top and bottom lines, and increased its dividend. Earnings of $1.90 per share beat the FactSet consensus estimate of $1.73. Alibaba — Shares popped more than 4% after The Information , citing one person with direct knowledge, reported Apple is partnering with the Chinese tech company to release AI features to iPhone users in China. — CNBC’s Sean Conlon, Michelle Fox, Alex Harring, Hakyung Kim, Yun Li, Sarah Min and Nick Wells contributed reporting.
