Check out the companies making headlines in intraday trading: Amazon — The e-commerce giant announced it would eliminate its brick-and-mortar stores, Fresh and Go, as a cornerstone of its grocery store strategy. Amazon’s stock rose more than 1% in midday trading, while rival grocer stocks fell. Kroger and Albertsons stock prices both fell about 3%. Micron — Memory and storage stocks rose about 5% to close at a new all-time high as construction began on an advanced wafer fabrication facility at an existing NAND manufacturing facility in Singapore. The investment plan totals approximately $24 billion over 10 years, with wafer production expected to begin in the second half of 2028. Reddit — The social networking platform fell 8% after the company’s chief technology officer revealed he sold about $3 million in stock late last week, according to a filing with the Securities and Exchange Commission. Pinterest — Shares of the social media platform fell nearly 10% after the company announced plans to cut about 15% of its workforce to devote more resources to roles and strategies focused on artificial intelligence. Sysco — Shares rose 9% after the food wholesaler reported higher profits and updated its full-year outlook. Cisco is currently directing full-year earnings at the high end of its previous range of $4.50 to $4.60 per share. Second-quarter earnings were 99 cents a share, compared with 98 cents expected by analysts surveyed by FactSet. Revenue also exceeded expectations. Roper Technologies — Software shares fell 13% to a 52-week low after the company issued weaker-than-expected guidance. Roper’s fourth-quarter sales were also lower than expected. United Parcel Service — The package delivery company rose 3% after reporting better-than-expected fourth-quarter results. UPS also announced it will cut an additional 30,000 jobs and close at least 24 facilities this year as it winds down its partnership with Amazon. UnitedHealth, Humana, CVS Health — Health insurance stocks fell after the Centers for Medicare and Medicaid Services announced a proposal to increase Medicare Advantage payment rates by just 0.09% in 2027, far below the expected 4% to 6% increase, according to FactSet. Shares of UnitedHealth Group and Humana each fell about 20%. CVS Health stock fell 13%. CORNING — The glass maker rose 16% after CEO Wendell Weeks said in an exclusive interview with CNBC that Meta Platforms has committed to paying Corning up to $6 billion by 2030 for fiber-optic cables for its AI data centers. General Motors — Shares soared about 9% after the company reported better-than-expected adjusted earnings in the fourth quarter and released its 2026 outlook, which also beat analyst expectations. In addition, GM increased its quarterly dividend by 20% and announced a $6 billion stock buyback program. American Airlines — The Fort Worth-based airline fell more than 5% after fourth-quarter results fell short of expectations. Still, the company is forecasting strong performance in 2026, with first-quarter revenue expected to increase 7% to 10% year over year. Full-year adjusted earnings are expected to be between $1.70 and $2.70 per share. Nucor — The steelmaker fell 2% after reporting weaker-than-expected earnings. The company reported fourth-quarter adjusted earnings of $1.73 per share on revenue of $7.69 billion. This is below the FactSet consensus on earnings of $1.91 per share and revenue of $7.91 billion. Sanmina — This electronics manufacturing services provider fell more than 19% after its latest earnings report. Sanmina reported adjusted earnings per share of $2.38 on revenue of $3.19 billion, but the coverage was weak so comparisons were not possible. —CNBC’s Itzel Franco, Michelle Fox, Scott Schnipper, Davis Giangiulio, Fred Imbert and Katie Tarasov contributed reporting.
