Check out the companies making headlines in midday trading. Brinker International â The stock plummeted around 12% after the Chili’s parent issued a weaker-than-expected profit forecast for the full year and reported disappointing fiscal fourth-quarter earnings . The company posted adjusted earnings of $1.61 per share, below the StreetAccount consensus estimate of $1.72 per share. Brinker also expects earnings per share between $4.35 and $4.75 for fiscal 2025, below the consensus estimate of $4.78. Victoria’s Secret â Shares surged more than 16% after the retailer announced the appointment of former Savage X Fenty CEO Hillary Super as the company’s CEO, effective Sept. 9. The company also provided preliminary second-quarter results, with adjusted operating income and adjusted diluted earnings per share coming in at a range above prior guidance. Flutter â The stock jumped more than 9% after the FanDuel parent reported better-than-expected second-quarter revenue. Flutter posted $3.61 billion for the period, which is above the StreetAccount consensus forecast of $3.4 billion. The sports betting company also raised its full-year guidance. Kellanova â Kellanova jumped 7.7% after it agreed to be acquired by snackmaker Mars in a deal valued at about $36 billion, or $83.50 per share in cash. The deal â which comes after Kellogg late last year split into two public companies, Kellanova and WK Kellogg â is expected to close in the first half of 2025. Alphabet â The stock moved around 3.5% lower after Bloomberg News reported , citing people familiar with knowledge of the discussions, that the Department of Justice is considering breaking up the megacap tech company. If the DOJ moves forward with the plan, the company’s Android operating system and Chrome browser could be targeted for divestment. Arm Holdings â The British chip designer’s U.S.-listed shares popped 4.3% after Intel sold its 1.18-million stake. The move comes amid a focus on restructuring and cost cutting for Intel, whose shares slipped 2.2% in midday trading. Cardinal Health â The stock moved more than 5% higher after the health care company’s fiscal fourth-quarter results surpassed Wall Street’s expectations. Cardinal earned $1.84 per share, excluding items, on revenue of $59.87 billion. According to analysts polled by StreetAccount, the company was expected to earn $1.73 a share on revenue of $58.64 billion. Cardinal also raised its full-year earnings guidance. Starbucks â The coffee chain’s shares fell around 4%, a day after the stock surged 24.5% following the announcement that it’s replacing its current CEO with Chipotle CEO Brian Niccol. The stock was also upgraded at several firms, including Deutsche Bank and Stifel, on the news. Illumina â The biotech stock gained 2.2% after being upgraded to buy from hold at TD Cowen. The firm said Illumina’s recent guidance reset and management change can help move shares higher. Nu Holdings â Shares of the Brazilian digital banking platform popped 4% after Nu reported second-quarter results that exceeded expectations. Adjusted net income of $563 million topped the FactSet consensus estimate of $460.3 million. Revenue of $2.85 billion also came in above the expected $2.57 billion. â CNBC’s Alex Harring, Sarah Min, Pia Singh and Michelle Fox contributed reporting.
