Check out the companies making headlines in midday trading.
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Simon Property Groupafter Simon Property Group reported a decline in funds from operations compared with a year ago. During the second quarter, funds from operations came in at $2.88 per diluted share, compared with $2.91 per diluted share in the year-ago period.
Southwest Airlinesdowngraded the air carrier to underperform from hold. The firm cited difficulty competing against premium providers.
QualcommQualcomm posted adjusted revenue of $8.44 billion, falling short of analysts’ estimates of $8.5 billion, per Refinitiv. The company also gave soft guidance and noted weak smartphone chip sales.
— CNBC’s Alex Harring, Yun Li, Michelle Fox, Hakyung Kim, Sarah Min and Pia Singh contributed reporting.