Midday movers: Tesla, Beyond Meat rise; Urban Outfitters, Bumble fall

investing.com:

(Updated — February 28, 2024 11:08 AM EST)

Investing.com — Main U.S. indexes retreated Wednesday amid caution ahead of the release of key inflation data on Thursday.

Here are some of the biggest U.S. stock movers today:​

Tesla (NASDAQ:TSLA) stock rose 2% after Chief Executive Elon Musk said the electric vehicle manufacturer had completed production design on a long-planned update to its Roadster electric sportscar, adding that it was likely to ship starting next year.

TJX (NYSE:TJX) stock rose 0.9% after the retailer topped market expectations for fourth-quarter sales on Wednesday as shoppers flocked to its TJ Maxx chain in search of holiday deals.

Beyond Meat (NASDAQ:BYND) stock soared over 45% after the faux meat producer after reporting better-than-expected quarterly earnings and also forecasting stronger margins, betting on price hikes and steep cost cuts to turn around its battered margins.

Urban Outfitters (NASDAQ:URBN) stock fell 14% after the clothing and accessories retailer disappointed with its fourth-quarter numbers, with dwindling sales forcing a rethink about some of its stores.

Bumble (BMBL) stock dropped 10% after its downbeat quarterly revenue forecast underscored the need for a revamp of the dating-app experience to attract newer generations seeking companionship.

eBay (NASDAQ:EBAY) stock rose 8% after the e-commerce group reported better-than-expected earnings guidance and fourth-quarter results despite facing a «challenging» macroeconomic environment.

Ambarella (NASDAQ:AMBA) stock fell 1.5% after the semiconductor company underscored the potential growth from its automotive and IoT sectors driven by its AI strategy in its results.

Advance Auto Parts (NYSE:AAP) stock rose 5% despite the company