Check out the companies making headlines in midday trading. Walgreens Boots Alliance – Shares plummeted more than 24.5% after the retailer reported third-quarter earnings that missed Wall Street expectations. The company also announced a cut to its full-year adjusted profit outlook and said it would close underperforming stores as a way to cut costs. CVS shares fell more than 4% in sympathy. Levi Strauss – The denim maker’s shares fell 17.1% after revenue hit $1.44 billion in its fiscal second quarter. That was slightly below the consensus forecast of $1.45 billion from analysts polled by LSEG. International Paper – The paper maker’s shares fell nearly 8% following news that Suzano is no longer pursuing a potential acquisition of the company. Suzano said it believes it has reached the maximum price for the transaction at mutual value without receiving any response from the other party. Hims & Hers Health – Telehealth shares fell 10.3% after Hunterbrook Media published a report discussing alleged problems with the company’s sales of weight-loss drugs. Hunterbrook Capital, a hedge fund with which Hunterbook is affiliated, is shorting the company’s stock. RH – The furniture company rose 5.6% after announcing that CEO Gary Friedman completed the purchase of $10 million worth of stock at an average of $216.10 per share. He currently owns just over a quarter of the company’s total outstanding shares. Micron Technology – Memory chip shares fell nearly 7% after Micron Technology gave guidance that was roughly in line with expectations. Analysts were hoping for rosier guidance topping guidance as AI demand continues to boom. AeroVironment – The drone maker fell nearly 16% after the company reported EBITDA guidance for fiscal 2025 that was 5% lower than what analysts expected, according to FactSet. However, AeroVironment posted strong fourth-quarter earnings and revenue. Arista Networks – Computer networking stock rose 4.3%. On Thursday, Citi raised its price target from $385 to $330, implying a 15% upside from Wednesday’s close. Arista Networks will benefit from ethernet’s growing share of the artificial intelligence networking market, the bank said. Goldman Sachs – Shares fell about 2% after the latest results of the Federal Reserve’s stress test. The central bank said all 31 banks tested could withstand a severe recession scenario. – CNBC’s Alex Harring, Samantha Subin, Lisa Kailai Han and Michelle Fox contributed reporting.
