Here’s a look at the companies making headlines in midday trading: Meme Shares – Meme shares surged for a second day, with GameStop shares up more than 65% and AMC shares up more than 70%. The latest trading frenzy for these names was sparked by the return of “Growling Kitty,” which posted online for the first time in nearly three years. AMC’s stock gains Tuesday came even after the movie theater said it completed a stock sale worth $250 million during wild trading Monday. Other meme names have also surged. Shares of once-dominant smartphone maker BlackBerry jumped 15% and headphone maker Koss jumped more than 40%. Alibaba – The Chinese technology company lost 7% after reporting net profit fell 86% year-on-year in the fiscal fourth quarter. Alibaba beat revenue expectations. Sony – U.S.-listed shares jumped 5.3% after quarterly revenue came in at 3.5 trillion yen, beating the consensus expectation of 2.89 trillion yen among analysts surveyed by LSEG. On the other hand, operating profit was lower than analysts had predicted. Vodafone shares jumped 5% in the US after the British telecoms company posted annual profits that beat expectations. About the holding – Shares of the footwear maker jumped 16% after first-quarter earnings significantly beat analysts’ expectations. This growth allowed the company’s shares to have their best day since March 2023. United Airlines – The airline gained 1% after sharing strong expectations for summer travel. In particular, United said it was on track to have its busiest Memorial Day holiday period ever, with the number of travelers projected to be up 10% from a year earlier. Newell Brands – Consumer staples shares rose 4.7% following an upgrade to equal to equal from a downgrade from Barclays. The company said business appears to be close to normalizing after a surge in demand due to the pandemic. Roblox, the video game developer’s shares, jumped 3.9%, providing some relief from a difficult month. Shares fell more than 9% in May when the company withdrew its guidance. Roth Capital downgraded the stock to neutral from buy on Tuesday. Boston Beer Company – Shares rose 1% after Jeffries recommended that the brewer buy out the brewery’s holdings. The firm noted positive trends in sales of flavored malt beverages and ready-to-drink cocktails, as well as Twisted Tea’s dominance in the growing strong tea sector. Planet Fitness — The gym chain gained nearly 2% after JPMorgan upgraded the stock to overweight from neutral, citing increased confidence in the fitness company’s long-term growth prospects. Stellantis — Shares rose 2% on news that the automaker will aggressively expand electric vehicle sales outside the U.S. through a deal with Leapmotor starting in September. The joint venture will allow Leapmotor to leverage Stellantis’ distribution networks, primarily concentrated in Europe. — CNBC’s Yoon Lee, Michelle Fox, Samantha Soobin, Hakyung Kim and Brian Evans contributed reporting.
