Microsoft Corporation headquarters at Issy-les-Moulineaux, near Paris, France, April 18, 2016.Charles Platiau | ReutersCheck out the companies making headlines in midday trading.J.B. Hunt Transport Services — The transportation stock jumped 4% after executives said on an earnings call that they expect to see the freight market rebound in second quarter going into third quarter as inventory resets. The company reported fourth-quarter results fell short of analysts’ expectations on both top and bottom lines, according to StreetAccount.Moderna — Shares rose 2.7% a day after the pharmaceutical company said its respiratory syncytial virus vaccine is effective in preventing the disease in older adults.Chegg — Shares fell 15% after Needham downgraded Chegg to hold from buy, saying the online education company will have trouble reaching consensus for full-year revenue growth in Chegg Services, according to StreetAccount.Microsoft — Shares of the technology giant moved 1% lower after it announced plans to cut 10,000 jobs through March 31 in an attempt to trim costs as economic uncertainties linger and growth slows. Microsoft also said it’s taking a $1.2 billion charge connected to lease consolidation and other activities.Mobileye — Shares of the assisted driving company gained 8% after Deutsche Bank initiated coverage of the stock as a buy. The firm said Mobileye’s technology was superior and could help the company become a Tier 1 auto supplier.Oatly Group — Shares of Oatly Group fell nearly 2%, losing steam after Mizuho upgraded the stock to buy from neutral. The firm said improving capacity should accelerate growth for the plant beverage company.GoDaddy — Shares jumped more than 3% after Evercore ISI upgraded GoDaddy to outperform from in line, saying the firm has a “reasonably recession-resistant business model.”Gap — Shares jumped 2% after Morgan Stanley upgraded Gap to equal weight from underweight, saying there’s “more upside than downside” at current levels for the stock.PNC Financial Services Group — Shares of the midsized bank fell more than 5% Wednesday after PNC missed Wall Street estimates on the top and bottom lines. PNC reported $3.49 in adjusted earnings per share on $3.68 billion of revenue for its fourth quarter. Analysts surveyed by StreetAccount had penciled in $3.95 per share on $3.74 billion of revenue. Net income was down from the third quarter, in part due to a higher provision for credit losses.YETI Holdings — Shares of the lifestyle outdoor brands company shed nearly 10% after being downgraded by Cowen to market perform from outperform. The Wall Street firm said e-commerce traffic trends were moderating.Hancock Whitney — Shares fell more than 4% after the bank reported earnings that came mostly in line with expectations, but net interest income came in below expectations, according to StreetAccount.— CNBC’s Michelle Fox, Jesse Pound, Alex Harring and Yun Li contributed reporting.
