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

2022.08.17 20:42

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 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. 

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