Take a look at the companies making headlines in midday trading. Victoria’s Secret – The lingerie retailer’s shares fell 36% and had its worst day ever after reporting mixed fourth-quarter results and disappointing guidance. Victoria’s Secret said it expects first-quarter and full-year revenue to decline more than expected. Novo Nordisk — Shares of Novo Nordisk rose nearly 10% to a record high after the company reported positive results from a Phase 1 trial of its new experimental weight loss drug doxorubicin. American Eagle Outfitters — American Eagle Outfitters’ shares rose 2% after it beat revenue and profit estimates. The company reported fourth-quarter adjusted earnings of 61 cents per share on revenue of $1.68 billion. Analysts expected earnings of 50 cents per share on revenue of $1.67 billion, according to LSEG. Shake Shack — Shares of Shake Shack rose more than 4% after TD Cowen upgraded the stock to outperform from market perform. TD Cowen cited Shake Shack’s promising “margin expansion strategy.” Kroger — Shares of Kroger rose 8.7% after the supermarket chain reported better-than-expected fourth-quarter profit. Kroger reported adjusted earnings of $1.34 per share. Analysts surveyed by London Stock Exchange Group (LSEG) expected profits of $1.13 per share. Revenue of $37.06 billion was slightly lower than expected. Burlington Stores — Burlington Stores shares rose 5% after the company reported better-than-expected fourth-quarter adjusted earnings per share and revenue. The company topped analysts’ expectations at the high end of its full-year profit guidance, and also beat analysts’ forecasts for revenue growth. Avangrid — Shares in the sustainable energy company soared 12.5% after Spanish utility Iberdrola bid to take Avangrid private at $34.25 a share. Iberdrola already holds approximately 81.6% of Avangrid’s outstanding shares. New York Community Bancorp — Shares of the regional bank rose 6.5% after announcing an infusion of more than $1 billion from Liberty Strategy Capital. Meanwhile, the bank’s deposits fell 7% month-on-month to $77.2 billion as of March 5. Semiconductor-chip stocks were generally higher, with the VanEck Semiconductor ETF (SMH) rising 3.3%. Nvidia shares rose more than 3% after Mizuho said the stock could rise to $1,000. Micron Technology shares rose more than 3% after Stifel upgraded the stock to buy from hold and raised his price target. Intel shares rose 3.9% after Bloomberg reported that the U.S. government was preparing to invest $3.5 billion in the company to produce advanced chips for the military, citing reports from congressional aides. —CNBC’s Samantha Subin contributed reporting
