Check out the companies making headlines in midday trading. CarMax – The used car seller fell 13% after reporting fourth-quarter earnings of 32 cents per share on revenue of $5.63 billion. Analysts had expected earnings per share of 49 cents on revenue of $5.80 billion, according to LSEG, formerly known as Refinitiv. Nike – The sports apparel maker added 3.2% after Bank of America upgraded Nike to buy from neutral. The bank said investors should buy lower stocks as estimates and valuations look compelling. Paramount – Shares rose 2% after CNBC's David Faber reported that deal talks with Skydance Media have moved to the “fast track,” with the two parties now negotiating the exchange percentage Paramount will pay to buy Skydance. Faber added that David Ellison, who will lead the combined company as CEO, is also planning a “radical” restructuring and “huge” cost cuts. Fastenal – Shares fell 4% after the industrial company reported first-quarter earnings of 52 cents per share on revenue of $1.9 billion, slightly below analyst estimates of 53 cents per share on earnings and revenue of $1.91 billion, according to FactSet. It also announced operating income of $390 million, versus expectations of $404 million. Alpine Immune Sciences – Alpine Immune Sciences stock rose about 37% after Vertex Pharmaceuticals agreed to buy the biotech company for $4.9 billion in cash. The deal values Alpine shares at $65, roughly 67% above Tuesday's close, the day before reports that Alpine was weighing its options. Vertex shares rose nearly 1%. Rocket Lab – Shares rose 3.3% after the aerospace company said it has been selected for a $32 million contract with the U.S. Space Force's Space Systems Command to work on the tactically responsive Victus Haze space mission. Constellation Brands – Shares of the beer and spirits maker added less than 1% after beating fourth-quarter sales expectations on strong beer sales. Constellation Brands reported revenue of $2.14 billion, versus the $2.10 billion expected by analysts surveyed by LSEG. Atlassian – Shares rose 3.2% after Barclays upgraded the software maker to overweight from equal weight and raised its price target. The bank believes that increased customer cloud migrations, combined with rising software developer openings, should support Atlassian's long-term growth. — CNBC's Lisa Kailai Han, Sarah Min, Yun Li, Samantha Sobin, Michelle Fox and Alex Haring contributed reporting.
