Check out the companies making headlines in midday trading: FedEx — The delivery giant plunged more than 13% after reporting a steep quarterly earnings drop. The company also lowered its full-year revenue forecast. CEO Raj Subramaniam said industrial demand was softer than expected, while FedEx’s customers continued to shift to cheaper, slower delivery options, which squeezed profits. Nike — The apparel stock jumped 5.8% after the announcement of a CEO change. Nike veteran Elliott Hill is taking over for John Donahoe in October. Shares of the company were down about 25% for the year prior to the announcement. Constellation Energy — Shares surged more than 17% after the company announced plans to restart the Three Mile Island nuclear plant and sell that power to Microsoft to satisfy the energy needs of its data centers. With that, Microsoft will purchase electricity from the plant in a 20-year agreement. Novo Nordisk — Shares fell 5.5% following disappointing trial results of the drugmaker’s experimental obesity pill, monlunabant. Analysts at Deutsche Bank called the results “underwhelming” compared to Eli Lilly’s orforglipron. Corbus Pharmaceuticals , which is developing a similar drug to Novo Nordisk’s, plunged about 60%. Competitors Eli Lilly and Viking Therapeutics climbed 1% and 4.3%, respectively. Vistra — The stock jumped more than 12% after the Texas-based power company announced it is going to acquire the entire 15% stake it d …
