Stocks making the biggest moves midday: Bed Bath & Beyond, Apple, Newell Brands and more

Finance

Shoppers exit a Bed Bath & Beyond store in New York.

Michael Nagle | Bloomberg | Getty Images

Check out the companies making headlines in midday trading:

Bed Bath & Beyond — Shares of Bed Bath & Beyond jumped 7% after WedBush upgraded the home goods retailer to outperform from neutral, saying the revamped board of directors has led to improved governance. WedBush also said the company might name a “well-regarded and highly experienced” CEO during its earnings release on Wednesday.

Apple — Shares of Apple rose more than 2% after J.P. Morgan raised its price target to $265 a share from $243 a share, which represents 20% upside for the stock. The firm said sales of Apple’s new line of iPhones are stronger-than-expected.

Newell Brands — Shares of consumer and commercial products distributor Newell Brands popped 6% following an upgrade to buy from hold from SunTrust. The firm raised its price target to $25 a share from $15 a share and said the company is on the verge of a turnaround.

Thor Industries — Shares of Thor Industries surged more than 21%, on pace for its best day of trading since September 2011, after reporting better-than-expected profits for its fourth-quarter earnings. Earnings per share were $1.67, topping estimates of $1.43, according to Refinitiv. The manufacturer of recreational vehicles stock’s jump higher comes despite lower-than-expected sales, which showed particular weakness in North America for both towable and motorized RVs.

Seattle Genetics —Shares of Seattle Genetics surged 12% after the company unveiled positive trial results for its tucatinib drug in treating metastatic colorectal cancer.

Dova Pharmaceuticals — Dova Pharmaceuticals skyrocketed more than 38% after biopharmaceutical Swedish Orphan Biovitrum announced it would acquire Dova for more than $900 million, or $29 per share. The deal is expected to close in the fourth quarter of this year.

Cal-Maine Foods — Egg-producer Cal-Maine Foods cratered 11% following disappointing first-quarter earnings. The company reported a loss of 94 cents on revenue of $241.2 million. Wall Street expected a loss of 85 cents on revenue of $254.5 million, according to Refinitiv. Cal-Maine cited a significant drop in egg prices due to an oversupply of eggs in the U.S.

—CNBC’s Yun Li, Fred Imbert and JR Reed contributed to this report.

Articles You May Like

This Social Security change would be ‘easiest and quickest,’ Manchin says. What debt ceiling negotiations may mean for benefits
$11 Million Condo In NYC’s Historic NoMad Area Stays True To Its Glory Days
These are the key tax forms you need to file your return — and when to expect them
South Florida’s Trump Group Just Reset The Global Bar For Luxury Real Estate—Again
Tax season starts with boosted IRS workforce, new technology as agency begins to deploy $80 billion in funding

Leave a Reply

Your email address will not be published. Required fields are marked *