Stocks turned higher Tuesday after Federal Reserve Chairman Jerome Powell reiterated that the process of lowering inflation was under way.
These stocks were making moves 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 repay debt. The stock closed Monday’s session with a gain of 92.1%.
Online-education company Chegg (CHGG) fell 17% after issuing first-quarter and full-year revenue guidance that was below 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. Shares of Oak Street were surging 29.8%. CVS rose 0.9%.
American depositary receipts of Baidu (BIDU) rose 12% after the Chinese tech company revealed concrete plans to launch a chatbot to rival the likes of popular ChatGPT.
Skyworks Solutions (SWKS) rose 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.
Zoom Video Communications (ZM) shares jumped 10% after the videoconferencing company announced a staff cut of about 15% and said the CEO would take a pay cut of 98%.
Hertz Global Holdings (HTZ) rose 8% Tuesday after the retail-car giant posted fourth-quarter earnings that beat expectations as travel demand rebounded.
Fiserv (FISV) shares jumped 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 issuing guidance that was below forecasts. It also announced a 9% increase to its quarterly dividend.
Royal Caribbean Group (RCL) shares jumped 7.1% Tuesday after the cruise operator posted a fourth-quarter loss narrower than analysts anticipated and high bookings.
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