A visitor wearing a mask walks outside Shanghai Disney Resort, which will be closed during the Chinese New Year celebrations following the outbreak of a new coronavirus in Shanghai, China on Jan. 24, 2020.

Aly Song | Reuters

Check out the companies that are making the headlines in midday trading.

Walt Disney Company – The entertainment giant’s shares were down about 0.5%, despite Disney’s better-than-expected results in the first quarter of its fiscal year. The company reported earnings of 32 cents per share on sales of $ 16.25 billion. The company now has nearly 95 million subscribers to Disney +, but revenue in its parking segment was down 53% year over year.

Newell Brands – Newell, which owns brands like Rubbermaid and Sharpie, posted a 7.7% decline in its shares after posting quarterly earnings of 56 cents per share, beating estimates by 8 cents per share. Investors appeared to degrade the company’s full-year earnings forecast of $ 1.55 to $ 1.65 per share, compared to a consensus estimate of $ 1.68 per share as the writing business was weak.

Coherent – Coherent’s shares are up about 14% as the electronic communications components maker II-VI plans to bid the laser maker $ 6.5 billion, according to the Wall Street Journal. The offering is valued at $ 260 per share in cash and in stock, more than the $ 226 per share agreement Coherent has already entered into with Lumentum Holdings and a bid of $ 240 per share by MKS Instruments.

Expedia – The travel book fell more than 1.5% after a disappointing fourth quarter report. Expedia recorded adjusted loss per share of $ 2.64 and revenue of $ 920 million. Analysts surveyed by Refinitiv expected a loss of $ 1.97 per share and revenue of $ 1.12 billion. The gross bookings were only a third of the same quarter last year.

Affirm – Fintech stock fell nearly 8% after the newly listed company reported quarterly sales that exceeded expectations. Affirm had revenues of $ 204 million in the second quarter of fiscal year, while analysts surveyed by Refinitiv had forecast $ 189.2 million. It was not clear whether Affirm’s earnings per share were comparable to a refinitive estimate. The stock has risen roughly 40% since Affirm went public last month.

AstraZeneca – AstraZeneca expects to double monthly COVID-19 vaccine production through April after fixing manufacturing issues, increasing biotech inventory by nearly 3%. The move would bring monthly production to 200 million cans.

Bausch Health – Bausch rose roughly 6% after it was revealed that billionaire Carl Icahn has acquired a 7.8% stake in the company, according to an SEC filing. Known for trying to make change in the companies he invests in, Icahn plans to contribute to the pharmaceutical company’s strategies and possibly seek a board seat.

– CNBC’s Yun Li, Jesse Pound and Maggie Fitzgerald contributed to the coverage.

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