A look at companies catching the eye in midday trading: Abercrombie & Fitch — Shares jumped 22% after the apparel retailer said first-quarter sales rose 22% year over year. Abercrombie’s profit for the quarter was nearly seven times higher than a year ago, beating Wall Street expectations. Netflix — Morgan Stanley reiterated its overweight rating on the streaming stock, sending the stock up 2%. The firm said Netflix sees strong double-digit revenue growth beyond the benefits it’s getting from its paid sharing initiative. American Airlines — The travel stock slid 14% after cutting its guidance for the second quarter. The company said it sees unit revenue for the period declining by as much as 6% compared to the same period a year ago. Its previous guidance had said the decline would not exceed 3%. American Airlines also lowered its adjusted earnings per share forecast.Dick’s Sporting Goods — Shares soared 15% after the sporting goods retailer reported first-quarter profit and sales that beat expectations and raised its full-year guidance. Dick’s now expects full-year earnings of $13.35 to $13.75 per share, up from a previous range of $12.85 to $13.25. That beats the $13.25 per share forecast by analysts surveyed by LSEG. ConocoPhillips, Marathon Oil — Oil companies fell nearly 4% in midday trading on news that ConocoPhillips will acquire fellow Marathon Oil in an all-stock deal for $17 billion. Marathon shares rose nearly 8% on the news. HubSpot — Marketing software company HubSpot rose 1.7%. Following Tuesday’s gains, CNBC’s David Ferber reported that Google parent Alphabet is in talks about an all-stock offer for HubSpot. Fluence Energy — Shares rose 3% after UBS renewed its buy recommendation on the company. The company said it is an “underappreciated beneficiary” of rising demand for artificial intelligence combined with power demand from data centers. Chewy — Shares of the pet supplies retailer rose 28% after a strong quarterly performance. Chewy reported earnings of 15 cents per share on revenue of $2.88 billion, beating expectations of earnings of 6 cents per share on revenue of $2.85 billion, according to LSEG. Insurance — Insurance company UnitedHealth fell 4.5% after management’s comments on its Medicaid business. Other stocks linked to government-run health insurance programs, namely Molina Healthcare, Elevance Health and Humana, also fell during Wednesday’s trading session. — Report by CNBC’s Brian Evans, Hakyung Kim, Jesse Pound and Michelle Fox.
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