Check out the companies making headlines in midday trading. Semiconductor stocks — Popular semiconductor stocks declined during midday trading, with Nvidia dropping more than 6% ahead of its Wednesday print. Super Micro Computer shed nearly 10% even after Rosenblatt issued a price target at a Street high . Advanced Micro Devices sank about 6%, and Marvell Technology lost nearly 4%. Walmart — Shares climbed more than 3% and notched a new all-time high on Tuesday following the retailer’s earnings report . Walmart beat expectations for its holiday quarter and announced its purchase of TV maker Vizio . Vizio shares surged about 15%. Discover Financial — Shares of the credit card issuer soared 14% after it agreed to be acquired by Capital One Financial in a $35.3 billion all-stock deal. Capital One shares were little changed. The company expects the merger to help expand its credit card offerings and its deposit base. Caterpillar — Shares dropped more than 2% after Evercore ISI downgraded the industrial machinery giant to in line from outperform. The Wall Street firm said investors should take some profits after the stock rallied more than 25% over the past year. Home Depot — Shares last inched lower by less than 1% after the home improvement retailer reported fiscal fourth-quarter earnings . Home Depot said its quarterly sales declined nearly 3% year over year, but it still surpassed Wall Street’s earnings and revenue expectations. Meanwhile, the company expects sales will rise 1% in fiscal 2024. Barclays — U.S.-traded shares of the British bank surged 11% after the bank announced a major operational restructuring, including cost-cutting efforts. Barclays also declared a 1 billion pound share buyback plan. The bank reported a yearly decline in net attributable profit in 2023, as well as a lower-than-expected forecast. Airline stocks — Alaska Air and Southwest Airlines added 3.6% and 1.3%, respectively, after Deutsche Bank upgraded their shares to buy from hold. The firm cited an “improving domestic supply backdrop.” Southwest also got an upgrade from Bernstein to market perform. Medtronic — Shares advanced 2.5% after the medical device company surpassed Wall Street estimates for both top and bottom lines in its fiscal third quarter. Medtronic also issued higher-than-expected earnings guidance for the full year, which it now estimates to be in the range of $5.19 to $5.21 per share. Analysts polled by FactSet forecast $5.16 per share. US Foods — Shares of the food distributor rose nearly 1% following an upgrade to overweight from neutral by Piper Sandler. The investment firm said US Foods’ stock has a “relatively clear path” to rise given the continued strength of the U.S. economy. Arm Holdings — The British chip designer sank 6%, pulling back from its 2024 rally. Arm shares have been on a roller-coaster ride since earnings earlier this month, due to a convergence of factors. — CNBC’s Yun Li, Alex Harring, Jesse Pound, Tanaya Macheel, Hakyung Kim and Brian Evans contributed reporting.
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