To The Moon

$Bed Bath & Beyond(BBBY)$ 

Embattled retailer Bed Bath & Beyond (BBBY) crashed 47% after announcing it will try to raise as much as $1.025 billion through an equity offering, but would likely file for bankruptcy if the fundraising failed. Late Monday, the Wall Street Journal reported the company secured investor backing for more than $1 billion in capital in order to stave off bankruptcy. On Monday, BBBY shares vaulted more than 92%.

Late Monday, Fabrinet (FN), Pinterest (PINS), Skyworks Solutions (SWKS) and Take-Two Interactive Software (TTWO) reported earnings. And BP (BP) and Transdigm (TDG) announced early Wednesday. BP jumped 4%, while Transdigm shares rallied 2.2% in morning trade.

Fabrinet shares climbed 3% on stronger-than-expected earnings and sales results. Pinterest dropped more than 1% Tuesday despite missing sales estimates. Skyworks gained 4.9% despite mixed results, as the company approved a new $2 billion stock buyback program.

Video game publisher Take-Two missed Wall Street's targets for the December quarter, citing weaker consumer spending. Take-Two also guided much lower than views for the March quarter. TTWO stock rose 1.7% in early trade.

Stock Market Today

Electric-vehicle leader Tesla (TSLA) fell 0.8% Tuesday morning, while Dow Jones tech giants Apple (AAPL) and Microsoft (MSFT) were higher after today's stock market open.

IBD Leaderboard watchlist stock Lattice Semiconductor (LSCC), Etsy (ETSY), Nexstar (NXST) and Wingstop (WING) — as well as Dow Jones stocks Caterpillar (CAT) and JPMorgan Chase (JPM) — are among the top stocks to buy and watch, with the ongoing strength of the market rally.

Lattice is an IBD Leaderboard watchlist stock. Etsy was a recent IBD Stock Of The Day. Nexstar was a recent IBD 50 Stocks To watch pick. Caterpillar and Lattice were featured in this week's Stocks Near A Buy Zone column.