Bed Bath & Beyond launched an equity offering to raise more than $1 billion to pay down debt.
dreamstine
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 /