Check out the companies making headlines in midday trading. CarMax — The used vehicle seller tumbled 13% after reporting fourth-quarter earnings of 32 cents per share on revenue of $5.63 billion. Analysts had expected earnings per share of 49 cents on revenue of $5.80 billion, according to LSEG, formerly known as Refinitiv. Nike — The athletic apparel maker added 3.2% after Bank of America upgraded Nike to buy from neutral. The bank said investors should buy the dip as estimates and valuation look compelling. Paramount — Shares rose 2% after CNBC’s David Faber reported the deal talks with Skydance Media have moved to the “fast lane,” with the parties now negotiating the exchange ratio Paramount would pay to buy Skydance. David Ellison, who would lead the combined company as CEO, is also planning a “radical” restructuring and “massive” cost cuts, Faber added. Fastenal — Shares dipped 4% after the industrial company posted first-quarter earnings of 52 cents per share on revenue of $1.9 billion, slightly missing analysts’ estimates of 53 cents per share in earnings and revenue of $1.91 billion, according to FactSet. It also reported operating income of $390 million, versus expectations of $404 million. Alpine Immune Sciences — Alpine Immune Sciences surged about 37% after Vertex Pharmaceuticals agreed to buy the biotech firm for $4.9 billion in cash. The deal values Alpine shares at $65, roughly 67% above its close on Tuesday, the day before reports that Alpine was considering its options. Vertex shares were up nearly 1%. Rocket Lab — Shares gained 3.3% after the aerospace company said it was selected for a $32 million contract with the U.S. Space Force Space Systems Command for work on the Victus Haze Tactically Responsive Space mission. Constellation Brands — Shares of the beer and spirits maker added less than 1% after topping fourth-quarter sales expectations due to robust beer sales. Constellation Brands posted revenue of $2.14 billion, versus the $2.10 billion expected by analysts polled by LSEG. Atlassian — Shares rose 3.2% after Barclays upgraded the software maker to overweight from equal weight and raised its price target. The bank believes increasing customer cloud migrations, as well as higher software developer job posts, should support Atlassian’s long-term growth. — CNBC’s Lisa Kailai Han, Sarah Min, Yun Li, Samantha Subin, Michelle Fox and Alex Harring contributed reporting.
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