Check out the companies making headlines in midday trading. Intel – the tech giant sank 8% after revealing a $7 billion operating loss at its semiconductor manufacturing – or foundry – business in 2023. Spotify Technology – the music streaming company jumped more than 8%. Spotify is raising prices for its premium subscription service in several markets, including the United States, Bloomberg reported. These increases will be the second time the company has raised prices within one year. Ulta Beauty – Shares of the beauty retailer fell more than 15%. Ulta warned at a conference that category growth was slowing faster than expected, and that it expected sales to moderate this year after a period of “very strong growth.” Dave & Buster's – Shares jumped 10% after the restaurant and entertainment chain increased its stock repurchase authorization by $100 million, bringing the total available stock repurchase authorization to $200 million. The company also reported lower-than-expected profits and revenues in the fourth quarter. Wolfspeed – The semiconductor company fell 2.6% after Wells Fargo downgraded its stock to equal weight from an overweight rating. Wolfspeed's exposure to Tesla could impact growth, the company said. Cal Maine – Egg product jumped 3.6%. The Cal-Maine company reported earnings of $3 per share and revenue of $703 million for the latest quarter, noting that market prices were higher due to the flu and typical seasonality. Disney — Disney shares fell more than 3% after the entertainment giant won its proxy fight against activist investor Nelson Peltz and re-elected members of its board, putting an end to a bitter, months-long battle. Signet Jewelers – Shares of the jewelry retailer and owner of Zales jumped nearly 10% after announcing plans to buy back half of its preferred stock worth about $414 million. Ford Motor Company – The automaker added about 3%. Ford Motor Company announced that first-quarter sales in the United States rose 7% compared to last year, while electric vehicle sales jumped 86%. SoFi Technologies – Shares of the fintech company rose 4.7% after Needham initiated coverage with a buy rating. The investment firm called SoFi a “long-term winner” in digital lending. GE Aerospace – Shares of GE Aerospace rose more than 6%, a day after the conglomerate formerly known as General Electric completed the split of its energy business. The entity, known as GE Vernova, began trading under the ticker symbol GEV on the New York Stock Exchange on Tuesday. — CNBC's Alex Haring, Hakyung Kim, Tanaya Machel and Jesse Pound contributed reporting.
