Pedestrians cross a street in front of a Rite Aid store in Oakland, California.
David Paul Morris | Bloomberg | Getty Images
Check out the companies that are making the headlines in midday trading.
Rite Aid – Rite Aid's shares rose 21.3% after the company reported quarterly earnings of 15 cents per share, beating analysts' expectations of a quarterly loss of 32 cents per share. The drugstore chain also announced a store closure program that it expects to save about $ 25 million annually.
Citrix Systems – Citrix shares rose 13.6% after Bloomberg reported that Elliott Investment Management and Vista Equity Partners were considering a joint offer for the software maker, which has been considering options including a possible sale since September.
Braze – The software company's shares rose 17.9% after a quarterly report that included lower-than-expected loss and better-than-expected revenue. It was Braze's first earnings report since going public last month.
Micron – The semiconductor company’s shares rose 10.5% after outperforming first-quarter revenue and earnings estimates. The forecast for the second quarter also impressed analysts and helped Mircon get an upgrade from Bank of America.
Nike – Shares rose 6.1% after the sportswear brand released a better-than-expected quarterly report despite supply chain issues. The company reported quarterly earnings of 83 cents per share, 20 cents per share above Refinitiv's consensus estimate. Sales were also above forecasts.
General Mills – The consumer goods giant's shares fell 4% after the company reported quarterly earnings of 99 cents per share that fell 6 cents off estimates. General Mills exceeded sales estimates for the quarter and raised its sales forecast for the full year. On the other hand, it is said that there are higher input costs and interruptions in the supply chain.
Boeing – The aircraft maker's shares rose 5.8% after UPS ordered 19 of the company's 767 freighters. Also on Tuesday, RBC named Boeing its top stock pick for 2022 and said free cash flow would improve.
Pfizer, Moderna – Vaccine stocks traded lower after the director of the Centers for Disease Control and Prevention said initial Covid-19 shots "may not be enough" to prevent infection, noting the Omicron- Variant has more than 50 different mutations. Both Pfizer and Moderna shares fell about 3%.
Kellogg – The grain and other food maker saw its shares fall 2.6% after it was revealed that union officials had ratified a previously announced tentative framework agreement at its four US grain plants. The deal includes approximately 1,400 unionized employees at the factories in Battle Creek, Michigan, Omaha, Neb., Lancaster, Pennsylvania, and Memphis, Tennessee.
SolarEdge – On a strong day for solar stocks, SolarEdge outperformed, rising more than 8.8% after Cowen named it the top stock pick for 2022 markets.
– CNBC's Jesse Pound and Hannah Miao contributed to the coverage