Black Friday is Now! Don’t miss out on up to 60% OFF InvestingProCLAIM SALE

Midday Movers: Target, Bed Bath & Beyond, Manchester United and More

Published 17/08/2022, 18:24
© Reuters.
BBBYQ
-
TGT
-
TSLA
-
IXIC
-
SNY
-
MANU
-
TDOC
-
TGTB34
-

By Liz Moyer

Investing.com -- U.S. stocks fell on Wednesday after a disappointing earnings report from Target. Here are the midday movers for Aug. 17:

  • Target Corporation (NYSE:TGT) shares fell 2.4% after the retailing giant said its quarterly earnings fell 90% as it slashed inventory prices to clear it out and get it ready for holiday sales. It kept its outlook for the year.
  • Bed Bath & Beyond Inc (NASDAQ:BBBY) shares rose another 21% on Wednesday, continuing a streak of sizeable gains as retail investors engaged in the meme stock trade continued to bid it higher despite bearish analyst notes.
  • Manchester United Ltd (NYSE:MANU) stock rose nearly 5% after Tesla (NASDAQ:TSLA) CEO and billionaire Elon Musk tweeted overnight that he was buying the U.K. football team and then said he was just joking. 
  • Sanofi (EPA:SASY) ADR (NASDAQ:SNY) shares sank 7% after the pharmaceutical company halted development of a breast cancer treatment because trials failed to demonstrate its effectiveness.
  • Teladoc Inc (NYSE:TDOC) shares were down nearly 7% after Guggenheim analysts downgraded it to sell from neutral, citing its exposure to the consumer market. 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.