Here’s a look at companies garnering attention in midday trading. Kroger — The supermarket chain’s shares rose 7.2%. Kroger reported second-quarter earnings, with adjusted profits beating expectations by 2 cents. Revenues missed Wall Street expectations. Petco — The pet retailer’s shares surged 11.3%. That follows a nearly 33% rise after Wednesday’s earnings release, which sent the stock to an all-time high. Moderna — Shares plunged nearly 12.4% after the drugmaker said it would cut expenses by $1.1 billion through 2027. Moderna also said it plans to launch 10 new products through 2027, but said it would pause or stop work on some products in its pipeline. Gilead Sciences — Shares rose 2.7% after the biopharmaceutical company said a second pivotal Phase 3 clinical trial showed its twice-yearly HIV prevention drug lenacapavir reduced infections by 96%, outperforming daily Truvada tablets. Alaska Airlines Group Inc. — The airline’s shares rose 1.2% after it raised its third-quarter outlook due to strong summer demand. Alaska Airlines told investors to expect earnings per share of $2.15 to $2.25, up from a previous range of $1.40 to $1.60. Interpublic Group of Companies Inc. — The advertising stock traded down 1.3% after UBS downgraded it to sell from neutral. Analyst Adam Berlin also lowered his 12-month price target. He cited the loss of big customers such as Amazon and Pfizer as reasons for the downgrade, but said investors have not yet fully factored them into the stock’s valuation. U.S. Bancorp Inc. — Bank shares fell 2% despite the company announcing a dividend hike and a $5 billion share buyback plan. Diageo Inc. — Alcoholic beverages shares rose 3.6% after Bank of America upgraded it to buy from neutral. Bank of America said the toughest period for the company is over. Roku — Streaming platform Roku’s shares rose 5.7% after Wolf Research upgraded the stock to outperform from peer perform. The Wall Street firm said it thinks Roku’s revenue growth will accelerate on the back of a reduced cost structure and new sales strategy. Oracle — The software company’s shares rose 2.7% after Bernstein named it a top investment idea. The firm sees further gains for the company, citing diversified products and services to hedge downside risk and higher revenue growth as catalysts. — CNBC’s Yun Li, Michelle Fox, Sean Conlon, Samantha Subin, Lisa Kai-Lai Han and Sarah Ming reported.
Biggest movers at midday: KR, WOOF, MRNA, ROKU
