An exterior view of a Bed Bath & Beyond store on February 7, 2023 in Clifton, New Jersey.
Kena Betancur | Corbis News | Getty Images
Find out which companies are making headlines in the midday business.
Bed bath and beyond – Stocks continued to decline in Friday’s session with a 22.8% drop. On Thursday, the company warned again that it may have to file for bankruptcy if its proposed $300 million stock offering fails. The retailer’s stock has lost nearly 40% of its stock value this week.
Acquisition of the digital world — SPAC shares linked to former President Donald Trump rose 6.3%. On Thursday, a New York grand jury formally indicted Trump on charges related to “silent” payments made before his 2016 campaign.
Nicholas – Shares of Nikola fell 11% after the electric truck maker announced plans for a secondary stock offering of $100 million at a price 20% lower at Thursday’s close.
pristine orbit — The satellite launch service provider plunged 32% after announcing it would halt operations “for the foreseeable future” and cut around 90% of its workforce.
blackberry – BlackBerry jumped 16% after the company posted lower earnings per share and adjusted EBITDA loss than analysts polled by StreetAccount expected for the fourth quarter. The company’s revenue, however, fell short of analysts’ expectations.
Regional Banks — Shares of closely watched regional banks rose, ETF SPDR S&P Regional Banking (KRE) up 0.8%. Metropolitan Bank led the index with a jump of 21.5%. PacWest And Popular come next with gains of more than 3% each. Sionson the other hand, was the worst performer of the group with a loss of 1.6%.
Sales — The real estate investment stock fell 2.5% after announcing that it claim the guarantee backing a loan of nearly half a billion dollars.
Generac Holdings – The battery backup company fell 2.5% following a downgrade to underperform from neutral by Bank of America. The company said Generac’s expectations for fiscal 2023 may be out of reach.
Alphabet – Google’s parent company gained 1.5% after Piper Sandler reiterated its overweight rating on the stock. The company said the company has undeniable market share, but could see search revenue impacted by artificial intelligence.
Restaurant brands – Shares of Burger King’s parent company rose more than 2% after TD Cowen improved the stock to outperform market performance. The Wall Street firm said it was optimistic about Restaurant Brands’ new CEO and the company’s potential to turn the brand around.
elf beauty — The cosmetics company’s stock gained 5.2%, hitting a 52-week high. Shares jumped after Morgan Stanley said elf was nearly 20% up. The analyst said the company has strong short- and long-term growth momentum and reiterated its overweight rating on the stock.
Mercadolibre – Shares rose 4% after Morgan Stanley named the Latin American e-commerce company a top pick. The company said it foresees several growth drivers.
— CNBC’s Samantha Subin, Yun Li and Hakyung Kim contributed reporting