Midday Movers: Bed Bath & Beyond, Cineworld, Wayfair and More

2022.08.19 20:22

Budrigannews.com – U.S. stocks fell Friday as investors await more clarity on interest rates from the Federal Reserve. Here are the midday movers for Aug. 19:

• Bed Bath & Beyond Inc (NASDAQ:BBBY) stock, on a wild ride all week, fell 38%. Investors are fleeing after activist Ryan Cohen sold his stake. Meme stock traders had bid up the shares of the home goods retailer until he disclosed his intention to sell.
• Cineworld Group (LON:CINE) shares plunged 53% after a report the theater operator was considering a bankruptcy filing. Admissions remain below expectations because of a weak calendar for movie premieres in the third quarter. Other theater shares also fell, including AMC Entertainment (NYSE:AMC), down 6%.
• Wayfair Inc (NYSE:W) stock fell 19% after the e-commerce furniture retailer said it was cutting 5% of its workforce, saying it overestimated growth in the home goods sector.
• Foot Locker Inc (NYSE:FL) shares jumped 20% after it said Mary Dillon, the former chief of Ulta Beauty (NASDAQ:ULTA), would take over as its CEO from Richard Johnson starting next month.
• Apple Inc (NASDAQ:AAPL) shares dipped 0.7% after the iPhone maker said people should update their phones, iPads and Mac devices after it discovered some security flaws and issued a patch to fix them.

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