A Bed Bath & Beyond store in the Brooklyn borough of New York, US, on Monday, Feb. 6, 2023. Bed Bath & Beyond Inc. said it would shutter another 87 stores in addition to the 150 closures it announced in August. Photographer: Stephanie Keith/Bloomberg via Getty Images
Stephanie Keith | Bloomberg | Getty Images
Check out the companies making headlines in midday trading.
Bed Bath & Beyond – Shares of the home goods retailer dropped nearly 16% after the company once again warned it may need to file for bankruptcy as it proposed a $300 million stock offering. The beleaguered company also said the loans it secured last year were downsized.
UBS — U.S. listed shares advanced 2%. The action comes a day after the bank announced Sergio Ermotti would return as CEO to oversee the takeover of Credit Suisse.
EVgo – The EV charging network operator surged 21% after the company reported fourth-quarter revenue that beat Wall Street estimates, according to Refinitiv. EVgo also highlighted strong year-over-year growth in network throughput.
Ford — The auto giant gained 1.4% after Morgan Stanley reiterated its overweight rating, saying the company should be able to show capital discipline.
Netflix — The streaming giant gained 1.7% in midday trading after Wells Fargo said it thinks the stock could rise 20% from here. Wells noted that the company’s “paid sharing efforts” give the stock exceptional upside, and is also “a key part of the long-term NFLX bull case.”
Zebra Technologies — Shares climbed more than 2% after Zebra Technologies announced a change in leadership. The mobile computing firm said it appointed Joe White as new chief product and solutions officer. Separately, TD Cowen initiated coverage of the stock as outperform.
Fluence Energy — Shares jumped 15% on an upgrade to buy from neutral by Goldman Sachs. The firm said the electric services provider should benefit from the Inflation Reduction Act.
Philip Morris — Shares rose 1.8% following an upgrade to overweight…
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