Bed Bath & Beyond Inc. in New York. Shoppers enter the store building.
Mark Kauzlerich | Bloomberg | Getty Images
Check out the companies making headlines in afternoon trading.
meme stock – a group of so-called Meme shares skyrocketed on Wednesday Retail investors again jumped into the speculative business. bed Bath and Beyond It took a 38% drop in Wednesday morning trading to trigger the trend. shares of GamestopThe original star of 2021’s meme-stock craze, climbed nearly 5%. amc entertainment increased by 15%.
Tesla – EV maker gains more than 2% after registering with the state of Texas Expand your electric-vehicle factory to Austin this year. Separately, Goldman Sachs Named Tesla a top stock pick for 2023.
expedia – Shares of the travel company rose more than 4% after Oppenheimer upgraded it for better performance by performance. The Wall Street firm said it believes Expedia’s shares are discounting macro headwinds.
seamless surgical – The maker of robotic surgical systems saw shares slide nearly 5% after the company reported only 369 placements of its da Vinci robot in the fourth quarter, which was a 4% decrease from the same period in 2021. It also issued revenue guidance, which slightly missed expectations, according to FactSet.
Poole Corp. – The swimming pool construction company added 5% after Deutsche Bank. upgraded it to a purchase from a hold rating, saying that should surprise shares and earnings guidance to the upside.
ABV — Shares of biopharmaceutical company AbbVie fell more than 1% after the CEO said at a JPMorgan healthcare conference that it expected the loss of exclusivity for its drug Humira for arthritis and psoriasis to affect the company’s performance. Will happen. Bloomberg reports. The company, however, does not anticipate a decline in 2024 earnings.
Levi Strauss Shares fell nearly 3% after Citi downgraded stock From buying to neutral. Despite saying that the company has a strong brand and long-term prospects, the firm said it would feel pressured in the short and medium term as denim trends worsened.
— CNBC’s Michelle Fox, Yoon Lee, Samantha Subin, Carmen Reinicke and Alex Harring contributed reporting.