Check out the companies making headlines in midday trading. WK Kellogg — The cereal company’s shares surged 11% after posting a beat on both top and bottom lines in the fourth quarter. The recently spun-off company also raised its 2024 forecast. Shopify — The e-commerce company saw shares slide more than 10% after it gave a mixed forecast for the current quarter. Shopify said it expects free cash flow margin to be in the high single digits, below Wall Street’s projected 13.6%. The company did beat fourth-quarter earnings and revenue estimates. Arista Networks — The computer networking stock fell 4% despite topping fourth-quarter estimates. Arista Networks said it expected first-quarter revenue to range between $1.52 billion and $1.56 billion, versus an estimate of $1.53 billion. Many on Wall Street, including Goldman Sachs, had expected the company to raise its full-year outlook. Marriott International — The hotel chain stock declined 5.7% after missing fourth-quarter revenue estimates. Marriott’s first quarter and full-year earnings guidance was also lower than what analysts had estimated. ZoomInfo Technologies — Shares rallied around 10% following strong earnings and a slightly better-than-expected first-quarter earnings per share outlook. ZoomInfo reported earnings of 26 cents per share, excluding items, on $316 million in revenue. Analysts polled by LSEG, formerly known as Refinitiv, had forecast earnings per share of 25 cents and revenue of $311 million. JetBlue Airways — The airline stock rallied more than 11% after activist investor Carl Icahn unveiled a roughly 10% stake in the company and called shares undervalued. Biogen — The biotechnology stock slumped more than 6% after missing Wall Street’s fourth-quarter estimates as revenue and profit declined from a year ago. The company’s performance was hurt by the discontinuation of its Alzheimer’s drug Aduhelm and a drop in sales within its multiple sclerosis therapies category. Tripadvisor —…
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