Check out the companies making headlines in midday trading. Shopify — Shares fell 3% on the back of the company’s investor day, which took place Tuesday. A lack of concrete long-term guidance left some analysts muted on the stock. The company’s strong performance in 2023 — shares have more than doubled year to date — also had some analysts forecasting a potential pullback in 2024. Asana — The software company shed 16% after management warned investors warned investors that macroeconomic headwinds are ongoing. On Tuesday, Asana beat analysts’ expectations in the third quarter, reporting a smaller-than-anticipated adjusted loss. Brown-Forman – Shares of the alcoholic beverage manufacturer shed 10% after Brown-Forman missed analysts’ expectations for the fiscal second quarter. Brown Forman posted earnings of 50 cents per share on revenue of $1.11 billion, while analysts polled by FactSet called for 51 cents per share in earnings and $1.15 billion in revenue. Campbell Soup – Shares of Campbell jumped 7% after the food manufacturer beat earnings estimates for the fiscal first quarter. Campbell Soup posted adjusted earnings of 91 cents per share, while analysts polled by LSEG anticipated 88 cents per share. Revenue of $2.52 billion was in line with estimates. Discover Financial — The stock added 2.7% after Bank of America upgraded the consumer financial services firm to buy from neutral. “We are in the latter stages of the current credit cycle and expect losses to peak in 2H2024,” the bank said. Sphere Entertainment — The live entertainment company added 6% following an upgrade to buy from neutral at Guggenheim. The firm cited strong demand as a catalyst for the move. Plug Power — Shares slipped 4% following a downgrade by Morgan Stanley to underweight from equal weight . The bank said it sees significant risks around Plug Power’s business model given the operational challenges it has encountered with its green hydrogen facilities. Morgan Stanley…
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