In this article
Check out the companies making headlines in midday trading.
Walmart — Shares fell about 10.5% after the big-box retailer reported quarterly earnings that significantly missed Wall Street's expectations. Walmart posted adjusted first-quarter earnings of $1.30 per share on revenue of $141.57 billion. Analysts had expected a profit of $1.48 per share on revenue of $138.94 billion, according to Refinitiv consensus estimates. Walmart cited cost pressures from rising fuel prices, higher inventory levels and overstaffing.
Citigroup — The bank stock rallied roughly 8.2% the day after a regulatory filing revealed that Warren Buffett's Berkshire Hathaway added more than 55 million shares to build a stake worth $2.95 billion in the first quarter. Shares of Citi have been underperforming the financial sector over the past 12 months and are still down 15% this year.
Paramount Global – Paramount shares surged nearly 14% after Berkshire Hathaway revealed a stake worth $2.6 billion in the media company. At the end of the quarter, the media company was Berkshire's 18th largest holding.
United Airlines – Shares of the air carrier jumped more than 7% after the Federal Aviation Administration cleared 52 Boeing 777 planes to fly again, after they were grounded for engine failure. The planes represent 10% of United's capacity. United has said it plans to bring the planes back gradually starting later this month.
Take-Two Interactive Software — Shares surged 12.3% despite light guidance and a miss on a bookings metric from the video game company. Analysts are expecting a better outlook after the company closes a pending acquisition of Zynga.
JD.com – Shares of the Chinese e-commerce giant gained about 2% after the company beat
Read more on cnbc.com