Check out the companies making headlines in midday trading. Hormel Foods — Shares popped 13.3% after the food processing company beat fiscal first-quarter earnings and revenue expectations. It posted earnings of 41 cents per share, excluding items, on revenue of $3 billion. Analysts polled by FactSet had called for earnings of 34 cents per share on $2.91 billion in revenue. The company said it expects continued growth in its food service business and improvement in its international segment. Monster Beverage — Shares rose about 5% after the energy drink maker posted strong January sales and gross margin expansion, despite reporting in-line adjusted earnings and a slight revenue miss for the fourth quarter, per FactSet. Morgan Stanley and RBC raised their price targets for the stock on Thursday. C3.ai — The artificial intelligence software stock advanced more than 24% after C3.ai posted a narrower-than-expected adjusted loss per share of 13 cents. The company’s revenue also beat Wall Street’s expectations. Chemours — Shares fell more than 33% after the chemicals company placed its chief executive, chief financial officer and principal accounting officer on leave and said it was conducting an internal review to look into potential “material weaknesses” in its financial reporting. The company also delayed its fourth-quarter earnings report. Okta — Shares rallied 20% after Bank of America Securities double upgraded the identity management company to buy from underperform. The bank believes Okta’s full-year guidance is overly conservative and could drive upward estimate revisions through the year. Bank of America also increased its price target to $135 from $64, suggesting nearly 55% upside from Wednesday’s close. Birkenstock — Shares of Birkenstock, a newly public footwear maker, jumped more than 6% after the company reported a 22% year-on-year jump in revenue fueled by higher pricing and rising U.S. demand. Best Buy — Shares gained 3% after the…
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