People walk by a Nike store in New York.
Spencer Platt | Getty Images
Check out the companies making headlines in midday trading.
Nike — The sportswear maker slid more than 5% after the company reported a surprise loss for the fourth quarter as sales slumped 38% year-over-year. Nike lost 51 cents per share, compared with analyst expectations of a 7-cent profit per share. Revenue also came up short as stores closed amid the pandemic.
Gap — Shares of the retailer soared more than 28% after it announced a partnership with musician Kanye West. West’s Yeezy design studio will design clothing lines for Gap, and the first products are expected in 2021, according to a press release.