Stocks making the biggest moves midday: Peloton, Bed Bath & Beyond, Nordstrom and more
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Check out the companies making headlines in midday trading.
Bed Bath & Beyond – Shares of Bed Bath & Beyond surged 14% on a Wall Street Journal report that the retailer had secured new financing that would help boost its liquidity.
Peloton – Shares jumped 18% after news that Peloton struck a deal to sell some of its fitness equipment and accessories on Amazon's U.S. e-commerce site. The move is an attempt to broaden Peloton's consumer base after revenue growth slowed from pandemic highs. The stock is down more than 60% year-to-date.
Toll Brothers – Shares of the luxury home builder rose 2.6% despite a revenue miss in the recent quarter and a cut to its delivery guidance amid supply chain disruptions and labor issues. Toll Brothers topped earnings expectations by 5 cents a share.
Nordstrom – Nordstrom tumbled 18% after cutting its financial forecast for the rest of the year, citing too much inventory and slipping demand. The company reported results Tuesday that beat on earnings and sales in the quarter.
Petco – Shares of Petco fell more than 7% after the company reported quarterly earnings that disappointed on the top and bottom lines. The company also slashed its full-year outlook, citing higher costs ahead.
Intuit – Intuit jumped 4.6% after reporting quarterly results that beat Wall Street expectations on profit and revenue. The company also gave a positive forecast, raised its quarterly dividend by 15% and increased its stock repurchase program.
Brinker International – Shares of Brinker International, the parent company of Chili's and Maggiano's restaurant chains, fell about 2% after reporting earnings that missed Wall Street estimates, affected by higher costs. The company also announced a
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