Stocks making the biggest moves midday: Bed Bath & Beyond, United, PVH and more
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Check out the companies making headlines in midday trading.
Bed Bath & Beyond — Shares rose 34% midday on news that GameStop's Chairman Ryan Cohen had a nearly 10% stake in the retailer through his investment company RC Ventures. He said that the home goods retailer should explore selling itself to a private equity firm and spinning off its BuyBuy Baby chain.
United Airlines, American Airlines – Air carriers were lower after fuel costs rose 32% to their highest level in more than 13 years last week, amid concerns about global oil supplies during the war between Russia and Ukraine. United Airlines slid about 10.7% while Delta and America fell 8.4% and 6.7%, respectively.
Ralph Lauren, PVH — The retail stocks fell 9.5% and 13.8%, respectively. Wedbush downgraded Ralph Lauren and PVH due to concerns about the companies' exposure to Europe amid the Russia-Ukraine war.
Schlumberger, Halliburton and Baker Hughes — Energy stocks were elevated, buoyed by surging oil prices from the Russia-Ukraine conflict. Overnight, the U.S. benchmark West Texas Intermediate crude briefly topped $130 per barrel. On Monday, Schlumberger's stock soared 7.7%, Halliburton surged 5.5%, and Baker Hughes jumped 4.9%.
Archer-Daniels-Midland — Shares in the agricultural company surged 2.9%. Investors are eyeing increases in wheat prices amid fears of supply shortages after Russia's invasion of Ukraine.
Visa and Mastercard — Shares in both financials tumbled after the U.S. payments companies said they were suspending operations in Russia over the weekend. Visa's stock declined 4.9%. Mastercard fell 3.4%.
Occidental Petroleum – Shares fell more than 5.7% after an SEC filing Friday revealed Berkshire Hathaway has taken a $5 billion stake in
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