Stocks making the biggest moves midday: Bed Bath & Beyond, Nio, Joby Aviation, Teva & more
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Check out the companies making headlines in midday trading Friday.
Bed Bath & Beyond — Shares of the home goods retailer popped more than 4% in midday trading after the company announced that three people from activist investor Ryan Cohen's firm, RC Ventures, will immediately join Bed Bath & Beyond's board.
Nio — The U.S.-traded shares of the Chinese electric vehicle maker dropped 10% after Nio reported its fourth-quarter results. Nio's fourth-quarter revenue beat expectations, but its forward guidance came in below StreetAccount estimates.
Joby Aviation — The electric aviation company's stock jumped 12% on the back of its latest quarterly results. Joby reported earnings of 1 per share after losing 31 cents per share in the year-earlier period. Morgan Stanley also reiterated the stock as overweight, noting that Joby continues to gain steam and take «meaningful steps forward in the certification and manufacturing process.»
Teva — Shares of the drugmaker gained 4.7% after Bernstein upgraded the stock to outperform from market perform, as Teva launches new products and looks to potentially settle ongoing opioid litigation.
Honest Company — Shares of the consumer goods company plummeted 25% on the back of mixed quarterly numbers. The Honest Company said it lost 10 cents per share on $80.4 million in revenue. Analysts expected a loss of 6 cents per share on $84.6 million in revenue, according to Refinitiv.
Fortinet — Fortinet fell 2.7% after Bank of America downgraded to neutral from buy. The bank said strong earnings growth is already baked into Fortinet's stock.
Alibaba, JD.com — Chinese technology stocks listed in the U.S. fell again on Friday, as they continue to face increased scrutiny in China and
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