Victoria’s Secret, Tesla, Didi and more

Victoria's Secret, Tesla, Didi and more

Try the businesses making headlines in noon buying and selling Wednesday.

Victoria’s Secret — Shares of Victoria’s Secret jumped greater than 10% after the intimate attire retailer introduced a $250 million accelerated share repurchase program. The corporate additionally reaffirmed fourth-quarter steerage supplied in November, together with an as much as 3% enhance in gross sales versus final yr’s fourth-quarter gross sales of $2.10 billion.

Didi International — Shares of the Chinese language ride-hailing agency fell 7.8%, persevering with a brutal month for the inventory. Reuters reported Wednesday that Didi is planning to listing its inventory in Hong Kong in mid-2022 with out issuing extra shares or elevating further capital.

Tesla — Tesla shares dipped 1.2% after monetary filings revealed late Tuesday confirmed CEO Elon Musk offered one other 934,090 shares — or about $1.02 billion value of his holdings — within the electrical automobile firm.

Alibaba — Alibaba shares fell 3% after Bloomberg reported the Chinese language e-commerce big is contemplating the sale of its 30% stake in social media firm Weibo to state-owned Shanghai Media Group. Weibo shares retreated 4.3%.

American Airways — Journey-related shares struggled after rebounding within the earlier session, because the omicron Covid variant continued to affect market motion. American Airways and Alaska Air every pulled again greater than 1%. United Airways additionally slid round 1%.

Cal-Maine Meals — Shares of Cal-Maine Meals fell greater than 4% after the egg producer reported weaker-than-expected quarterly outcomes. The corporate earned 2 cents per share for its newest quarter, properly in need of the 30-cent Refinitiv consensus estimate. Larger manufacturing prices and feed prices bit into revenue, Cal-Maine Meals reported.

— CNBC’s Tanaya Macheel and Jesse Pound contributed reporting

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