Signs will be displayed outside a Bed Bath & Beyond Inc. store in Los Angeles, California, United States on Monday, September 19, 2016.
Patrick T. Fallon | Bloomberg | Getty Images
Check out the companies that are making headlines in midday trading.
WideOpenWest – The U.S. cable operator saw its share price jump 13.4% after it announced it would sell five of its service businesses in two separate stores for a total of $ 1.8 billion to reduce its debt. The transactions are expected to close in the second half of the year.
Bed Bath & Beyond – The retailer’s shares rose 11.3% after reporting better-than-expected sales results for its first fiscal quarter and raising its full-year outlook. The volume of the stock was unusually high, suggesting that part of the surge could be due to a return from Reddit traders who helped boost the stock earlier this year.
Virgin Galactic – Shares fell 2.1% after Bank of America double downgraded the stock to underperform the buy. The company said Virgin Galactic’s soaring share price has already priced in much of the potential profits expected if the company kicks off space tourism. The BofA also noted that the space sector continues to be risky and volatile.
MongoDB – The database platform company’s shares fell 5.7% after it announced it would sell 2.5 million Class A common shares to raise $ 889 million. MongoDB plans to use the sales proceeds for general corporate purposes.
Advanced Micro Devices – The semiconductor company’s stock was up 4.9% after Bank of America repeated its buy rating, calling the stock “compelling” and “undervalued.”
Constellation Brands – The liquor and beer maker’s shares rose nearly 1.3% according to the company’s quarterly report. Constellation Brands reported adjusted quarterly earnings of $ 2.33 per share, in line with Wall Street projections, according to Refinitiv. The income was slightly above the estimates.
Las Vegas Sands – The casino and resort company’s stock traded 2.96% after reports were released that restrictions on Covid will be eased in July between Hong Kong and Macau, where the company owns and operates five properties . Hong Kong to Macau travelers are currently under quarantine for 14 days upon arrival.
General Mills – The food maker saw its shares rise 1.5% after reporting quarterly earnings of 91 cents per share, beating analyst estimates by 6 cents. The company also reported sales of $ 4.52 billion on estimates of $ 2.02 billion.
– CNBC’s Hannah Miao, Yun Li and Jesse Pound contributed to the coverage
Become a smarter investor with CNBC Pro.
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV.
Sign in to get started Try it for free today