Take a look at the companies making headlines in midday trading. CarMax — The used-car retailer fell 13% after reporting fourth-quarter earnings of 32 cents a share on revenue of $5.63 billion. Analysts had expected earnings of 49 cents a share on revenue of $5.80 billion, according to LSEG, formerly Refinitiv. Nike – The athletic apparel maker added 3.2% after Bank of America upgraded Nike to buy from neutral. The bank said investors should buy the dip as valuations and valuation are compelling. Paramount — Shares rose 2% after CNBC's David Faber reported that deal talks with Skydance Media had moved into the “fast lane” as the parties are now negotiating the exchange rate Paramount will pay to buy Skydance. David Ellison, who will lead the conglomerate as CEO, also plans “radical” restructuring and “massive” cost cuts, Faber added. Fastenal — Shares fell 4% after the industrial company posted first-quarter earnings of 52 cents a share on revenue of $1.9 billion, according to FactSet. It also reported operating income of $390 million versus expectations of $404 million. Alpine Immune Sciences – Alpine Immune Sciences jumped about 37% after Vertex Pharmaceuticals agreed to buy the biotech company for $4.9 billion in cash. The deal values Alpine shares at $65, about 67% above their close on Tuesday, a day before reports that Alpine was considering its options. Vertex shares rose nearly 1%. Rocket Lab — Shares rose 3.3% after the space agency said it was selected for a $32 million contract with the U.S. Space Force's Space Systems Command to work on the Victus Hayes tactically responsive space mission. Constellation Brands – Shares of the beer and spirits maker added less than 1% after fourth-quarter sales topped expectations due to strong beer sales. Constellation Brands reported revenue of $2.14 billion, versus the $2.10 billion expected by analysts polled by LSEG. Atlassian — Shares rose 3.2% after Barclays upgraded the software maker from equal weight to overweight and raised its price target. The bank believes increasing customer cloud migration and more software developer jobs should support Atlassian's long-term growth. — CNBC's Lisa Kailai Han, Sarah Min, Yun Li, Samantha Subin, Michael Fox and Alex Haring contributed reporting.
