Foot Locker Inc. sign is displayed in the window of a store in New York, USA
Michael Nagle | Bloomberg | Getty Images
Take a look at the companies making headlines during midday trading on Friday.
Bloom Energy — The clean energy stock jumped 5.1% after an upgrade to overweight from neutral by JPMorgan. The bank said there is a buying opportunity after a recent selloff.
Foot Locker — The footwear retailer was down 25.7% after it missed both the top and bottom lines during its fiscal first quarter. The company also lowered its outlook for the full year, citing a “tough macroeconomic backdrop.” Dick’s Sporting Goods followed Foot Locker lower, losing 6.5%.
Occidental Petroleum – Shares of the Houston-based oil and gas producer rose nearly 2%. Warren Buffett’s Berkshire Hathaway bought more shares on each of the last six trading days, increasing its stake to 24.4%. Buffett has ruled out the possibility of taking full control of Occidental.
Disney — The media conglomerate fell nearly 2% in midday trading after Macquarie Research downgraded shares to neutral from outperform. “We continue to appreciate Disney’s ability to transform itself into
a DTC-first streaming business over time, but now sees more temporary uncertainties,” Macquarie wrote.
Catalent — The drugmaker rose 14.4% mid-day after the company shared a business update. CEO Alessandro Maselli said on a call that the company believes it “can serve adequately [customers’] demand.” The company has had problems at various production sites this year.
Farfetch — The e-tailer jumped 17.6% in midday trading after Farfetch reported a first-quarter sales beat. Farfetch reported $556 million versus an analyst Refinitiv forecast of $513 million.
Western Alliance, PacWest — shares of the regional banks fell more than 4% each, giving back some of their strong gains from this week. Despite the losses, Western Alliance and PacWest are still up more than 20%.
— CNBC’s Hakyung Kim, Alex Harring, Yun Li and Sarah Min contributed reporting