Check out the companies making headlines in midday trading. United Airlines – The airline stock popped nearly 5% a day after the company reported higher-than-expected earnings and revenue for the fourth quarter. The carrier hit its full-year adjusted earnings target of between $10 and $12 a share in 2023 and said bookings so far in 2024 have been solid. United forecast a first-quarter loss due to the grounding of Boeing 737 Max 9 planes this month, however. TKO Group – Shares of TKO Group Holdings rallied 15.8% after announcing a deal to air its WWE flagship program known as “Raw” on Netflix next year. The move marks Netflix’s first major jump into live sports. 3M – 3M sank more than 11% after issuing disappointing guidance. The company said it expects adjusted earnings per share to range between $9.35 and $9.75 for the year, falling short of the $9.81 per share expected by analysts polled by LSEG. Alibaba – U.S. shares of the China-based technology company surged nearly 8% after regulatory filings and The New York Times revealed that Alibaba’s co-founders have purchased more than $200 million worth of shares. Sunnova Energy , Enphase Energy – Sunnova Energy and Enphase Energy gained nearly 5% and 4%, respectively, after Truist upgraded the solar stocks to buy ratings, saying that both stocks could benefit from rate cuts this year from the Federal Reserve. Coinbase – Coinbase slumped 3% after JPMorgan downgraded the crypto exchange to underweight from equal weight, saying that the company could face some obstacles as enthusiasm for spot bitcoin ETFs fades. NetEase – The Chinese internet stock rose 7.9%. Beijing’s gaming regulator pulled draft video gaming rules from its website, according to Reuters. These regulations aimed to reduce spending on video games. The KraneShares CSI China Internet ETF (KWEB) advanced more than 4%. General Electric – The industrial stock slipped 1% in midday trading. General Electric surpassed fourth-quarter estimates…
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