Stocks making the biggest moves in the afternoon: Netflix, Cal-Maine Foods, Southwest and more – CNBC

Stocks making the biggest moves in the afternoon: Netflix, Cal-Maine Foods, Southwest and more - CNBC

In this photo illustration, the Netflix logo appears on a smartphone screen against a graphic representation of the stock market in the background.

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Check out the companies making headlines during midday trading.

Netflix — The streaming giant gained 6.3% in followers a double upgrade to buy from sell by CFRA. The company said it would be difficult for competitors to catch up with the company.

Cal-Maine Foods — Cal-Maine shares lost 15% after reporting earnings that fell short of Wall Street expectations, even as the egg maker reported record sales. The company said the bird flu outbreak was limiting supply and driving up prices.

Southwest airlines — Aviation stocks rose more than 3%, recouping losses from the previous session when they fell more than 5%. Severe disruptions at Southwest Airlines have drawn excessive criticism from frustrated travelers, who have had to deal with thousands of airline flight cancellations due to winter weather this week. Southwest Airlines canceled another 60% of its flights on Wednesday. According to The Dallas Morning News, it is expected to restore its full schedule on Friday.

Lockheed Martin — The defense contractor’s stock rose nearly 1% following news that its Sikorsky unit is contesting a US Army helicopter contract awarded to Textron. It said proposals for the $1.3 billion contract were not evaluated fairly. Shares of Textron last rose 1.9%.

Tesla — Tesla shares gained more than 7% after selling off in the previous sessions and 37% this month. The stock is on its way to one of its shares worst months, quarters and years ever.

Apple — Shares of the iPhone maker rose more than 3% after reaching its lowest level since June 2021 earlier this week.

General Electric — Shares rose 1.7% on news that the General Electric healthcare spinoff will join the S&P 500 when it trades separately on January 4. GE Healthcare will take its place Vornado Real Estate Trustready to join the S&P MidCap 400.

ImmunoGen — Shares rose 6.2% after the biotechnology company announced that CFO Susan Altschuller would not be returning from time off. Renee Lentini, the vice president and chief accounting officer, was named interim CFO. The stock initially fell in premarket trading.

TG Therapeutics — Biopharmaceutical stock rose more than 29% on news that the US Food and Drug Administration approved his drug to treat relapsing forms of multiple sclerosis. The drug, known as Briumvi, is expected to roll out in the first quarter of 2023.

— CNBC’s Alex Harring and Sarah Min contributed reporting

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