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 24% 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 more than 9% 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 7.8% and 4.9%, 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 …
