Check out the companies that hit the headlines on Wednesday noon.
Victoria's Secret – Victoria's Secret shares rose 12.2% after the underwear retailer announced an accelerated share buyback program of $ 250 million. The company also confirmed the fourth quarter guidance it issued in November, forecasting an increase in sales of up to 3% from last year's sales of $ 2.10 billion in the fourth quarter.
Didi Global – Shares in the Chinese transportation company fell 8.2%, continuing a brutal month for the stock. Reuters reported Wednesday that Didi plans to list its shares in Hong Kong in mid-2022 without issuing any more shares or raising additional capital.
Tesla – Tesla shares were down 0.2% after financial documents released late Tuesday showed that CEO Elon Musk sold an additional 934,090 shares – or about $ 1.02 billion of his stake – in the electric car maker.
Alibaba – Alibaba shares fell 2.4% after Bloomberg reported that the Chinese e-commerce giant is considering selling its 30 percent stake in social media company Weibo to state-owned Shanghai Media Group. Weibo shares were down 4.3%.
American Airlines – Travel-related stocks struggled after rebounding in the previous session as Omicron's Covid variant continued to affect market action. American Airlines lost 2.6%. United Airlines and Alaska Air each pulled back more than 1%.
Cal-Maine Foods – Cal-Maine Foods stocks fell 5.4% after the egg producer reported weaker-than-expected quarterly results. The company earned 2 cents a share last quarter, well below Refinitiv's consensus estimate of 30 cents. Higher production and feed costs weighed on profits, reported Cal-Maine Foods.
– CNBC's Tanaya Macheel and Jesse Pound contributed to the coverage