An exterior view of a Bed Bath & Beyond store on February 7, 2023 in Clifton, New Jersey.
Kena Betancur | Corbis News | Getty Images
Check out the companies making headlines in midday trading.
21 hours ago
Digital World Acquisition — Shares of the SPAC linked to former President Donald Trump advanced 6.3%. On Thursday, a New York grand jury formally indicted Trump on charges related to “hush money” payments made before his 2016 campaign.
Virgin Orbit — The satellite launch services provider dived 32% after announcing it will halt operations “for the foreseeable future” and eliminate about 90% of its workforce.
BlackBerry — BlackBerry popped 16% after the company posted a smaller per-share earnings and adjusted EBITDA loss than analysts polled by StreetAccount expected for the fourth quarter. The company’s revenue, however, missed analyst expectations.
Regional banks — Shares of closely followed regional bank stocks advanced, with the SPDR S&P Regional Banking ETF (KRE) up 0.8%. Metropolitan Bank led the index with a 21.5% jump. PacWest and Popular were the next best performers with gains of more than 3% each. Zions, on the other hand, was the worst performer of the group with a 1.6% loss.
Ventas — The real-estate investing stock slid 2.5% after announcing it would take ownership of collateral supporting a nearly half-billion dollar loan.
Generac Holdings — The battery backup company dropped 2.5% following a downgrade to underperform from neutral by Bank of America. The firm said Generac’s fiscal year 2023 expectations could be out of reach.
Alphabet — The Google parent gained 1.5% after Piper Sandler reiterated its overweight rating on the stock. The firm said the company has undeniable market share but could see search revenues impacted by artificial intelligence.
Restaurant Brands — Shares of the parent company of Burger King rallied more than 2% after TD Cowen upgraded the stock to outperform from market perform. The Wall Street firm said it’s bullish on Restaurant Brands’ new chairman and CEO and the company’s potential to turn around the brand.
elf Beauty — The cosmetic company’s stock gained 5.2%, reaching a 52-week high. Shares jumped after Morgan Stanley said elf has nearly 20% upside. The analyst said the company has strong momentum on both near- and long-term growth and reiterated his overweight rating on the stock.