Stocks rose on Tuesday after Federal Reserve Chairman Jerome Powell reiterated that the process of reducing inflation was underway.
These stocks were trending on Tuesday:
Bed Bath & Beyond (ticker: BBBY) was down 49% after the struggling retailer said it launched an equity offering to raise more than $1 billion to pay down debt. The stock closed with a gain of 92.1% in Monday’s session.
online education company Cheese (CHGG) fell 17% after issuing first-quarter and full-year revenue guidance that fell short of analysts’ expectations.
cvs health (CVS) is close to an agreement to acquire Oak Street Health (OSH) for about $10.5 billion including debt, The Wall Street Journal reported. Oak Street shares were up 29.8%. CVS climbed 0.9%.
American Depository Receipts of Baidu (BIDU) soared 12% after the Chinese tech company revealed concrete plans to launch a chatbot to rival the likes of the popular ChatGPT.
Skyworks Solutions (SWKS) soared 13% after the semiconductor company reported in-line quarterly results, announced a new $2 billion stock buyback, and Wall Street analysts raised price targets on the stock.
Shares of Zoom Video Communications (ZM) soared 10% after the videoconferencing company announced staff cuts of about 15% and said the CEO would take a pay cut of 98%.
Hertz Global Holdings (HTZ) soared 8% on Tuesday after the retail-car giant reported fourth-quarter earnings that exceeded expectations on a rebound in travel demand.
Shares of Fiserv (FISV) soared 8.4% after the financial services tech company posted fourth-quarter earnings that slightly beat expectations.
DuPont (DD) stock rose 7.5% after reporting fourth-quarter earnings that beat estimates but issued guidance that was below forecasts. It also announced a 9% increase in its quarterly dividend.
Royal Caribbean Group (RCL) shares jumped 7.1% on Tuesday after the cruise operator posted a fourth-quarter loss narrower than analysts anticipated and higher bookings.
Write to Joe Woelfel at [email protected] and Emily Dattilo at [email protected]
Credit: www.marketwatch.com /