Check out the companies making headlines in midday trading: Delta Air Lines — Shares of the airline surged 9% on better-than-expected results for the fourth quarter. Delta posted adjusted earnings of $1.85 per share on $14.44 billion of revenue. That surpassed the LSEG forecast of $1.75 per share and $14.18 billion in revenue. The company also offered up strong guidance. Constellation Energy — The stock popped 25.2% after the company announced it would buy geothermal and natural gas company Calpine in a $26.6 billion deal. Constellation also guided its full-year adjusted earnings per share to above where analysts anticipated. Capri Holdings — The luxury fashion group rose 10.2% following upgrades from Citi and Wells Fargo. The latter highlighted a recovery in margins. Citi noted that “the market seems to be valuing the company as if its portfolio of brands are on a path to extinction,” adding that is not the case. Allstate , Chubb — Insurers exposed to the California homeowners’ market sold off sharply Friday as the devastation caused by the Los Angeles wildfires spread. Shares of Allstate and Chubb declined 5.6% and 3.4%, respectively. AIG shed 1.5%, and Travelers fell about 5%. AllState, Chubb and Travelers are the most exposed carriers to insured losses in the wildfires, according to JPMorgan. The Wall Street firm noted that Chubb could have a particularly high exposure due to its high net worth focus in the region. Edison International — The Southern California-based utility provider fell more than 6% as deadly wildfires continued to burn in Los Angeles. Although Edison has denied involvement in starting the wildfire, it has still been asked by insurance companies to preserve evidence. The move downward comes after shares dropped more than 10% on Wednesday. Jefferies Financial Group — Shares declined 10.8% after the investment bank posted weaker-than-expected earnings for the fourth quarter. Jefferies reported 93 cents in earnings per share, while analysts anticipated 97 cents in earnings per share, according to FactSet. Revenue of $1.96 billion did top an estimate for $1.83 billion. Walgreens Boots Alliance — The pharmacy stock surged 27.8% on better-than-expected results for the fiscal first quarter. Walgreens reported 51 cents in adjusted earnings per share on $39.46 billion in revenue. Analysts surveyed by LSEG had forecast earnings of 37 cents per share and $37.36 billion in revenue. Meanwhile, the company maintained its fiscal 2025 adjusted earnings guidance range between $1.40 and $1.80 per share. Disney , Warner Bros. Discovery , Fox — The media stocks fell after scrapping plans for Venu , a joint sports streaming service. Warner Bros. tumbled 3.6%, while Disney and Fox shed 1% and 1.6%, respectively. On Semiconductor — Shares tumbled 7.5% on the heels of a Truist downgrade to hold from buy. Truist said it is cautious on the stock until estimates are reset lower and noted deteriorating demand trends. Sweetgreen — The salad chain’s stock added 2.7% following an upgrade to buy from neutral at Citi. The bank said Sweetgreen’s robotic kitchen can provide “substantial financial upside” for the company. Constellation Brands — The alcohol maker dropped 25.2% after earnings missed expectations. Constellation earned $3.25 per share, excluding items, on $2.46 billion in revenue for the fiscal third quarter. Analysts polled by FactSet forecast $3.31 in earnings per share and $2.53 billion in revenue. Advanced Micro Devices — Shares of the chipmaker fell more than 4% following a downgrade to neutral from buy at Goldman Sachs. The investment firm cited revenue growth as a concern for AMD. The stock’s slide came amid a broad decline for semiconductor companies on Friday. Hims & Hers — The telehealth stock slid 1.2% following a downgrade from Citi to sell from neutral. Citi analyst Daniel Grosslight said investors are overvaluing the company’s GLP-1 revenue stream, especially following the FDA’s decision to take tirzepatide off the shortage list. Semaglutide is likely to follow, which would cause the firm’s GLP-1 revenue to fall from $400 million in fiscal 2025 to $135 million, he wrote. — CNBC’s Yun Li, Alex Harring, Michelle Fox, Lisa Kailai Han and Jesse Pound contributed reporting.