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

Market Insider

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.

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