Check out the companies making headlines in midday trading. Apple – Apple is down about 3%. Counterpoint Research said iPhone sales in China fell 24% in the first six weeks of 2024 compared to the same period last year. Target – Target jumped nearly 12% after the retailer topped Wall Street’s fourth-quarter estimates. The department store chain saw lower same-store sales and issued a conservative sales forecast but still grew profits and showed better margins year over year. Tesla – The electric vehicle maker slumped nearly 5% after a suspected arson attack at a nearby electrical substation shut down production at its Berlin gigafactory. Advanced Micro Devices – Shares fell more than 2% after Bloomberg said AMD failed to get past US regulators to send chip production to China. The report said that although AMD designed a chip with lower performance, the Department of Commerce refused to sell it in China because it was still too high-end. Micro Strategy – Micro Strategy is down more than 15%. The bitcoin developer has unveiled a private offering of $600 million in convertible senior notes with the proceeds intended for additional bitcoin purchases and general corporate needs. Albemarle – Shares fell about 12% after the lithium producer began selling $1.75 billion in depository shares, each representing a 1/20th interest in a share of Preferred Stock Series A mandatory convertible offer. Albemarle said the proceeds could be used to fund the build-out and expansion of operations in China and Australia, commercial clearance returns and general corporate purposes. company. GitLab – The software company fell more than 19% after issuing weaker-than-expected forward guidance. Gitlab forecast full-year revenue of $725 million to $731 million compared with analyst estimates of $732 million, according to LSEG. Profit forecasts also missed expectations, with GitLab guiding between 19 cents and 23 cents, compared with a consensus estimate of 35 cents. Fourth quarter revenue and earnings beat estimates. Paymentus Holdings – The payments technology stock jumped 21% after beating Wall Street’s fourth-quarter revenue and earnings estimates. AeroVironment – Defense stocks jumped nearly 28% and were on track for their second-best day ever after beating Wall Street’s third-quarter fiscal expectations and giving stronger-than-expected full-year guidance. AeroVironment posted third-quarter adjusted earnings of 63 cents a share on revenue of $187 million. SoFi Technologies – The financial services stock lost 12% after registering a $750 million convertible senior bond offering. Vivid Seats – Shares of Ticket Market fell more than 9% after reporting lower net income in the fourth quarter. Vivid Net Income totaled net income of $22.4 million, down 10% year-over-year. The company also lowered its 2024 profit target. AT&T – Mobile network increased about 3%. Wolfe Research upgraded the stock to outperform its peers, citing attractive risk-reward. StitchFix – Shares of the personal hair styling services company fell more than 20%, which dented its full-year revenue outlook. The number of active customers decreased by 17% compared to the same period last year. – CNBC’s Yun Li, Michelle Fox, Jesse Pound and Hakyung Kim contributed reporting