Peloton, Bed Bath & Beyond, Nordstrom and more

A man walks past a Peloton store in Manhattan on May 05, 2021 in New York City.

John Smith | Corbis News | Getty Images

Find out which companies are making headlines in the midday business.

Bed Bath & Beyond – Shares of Bed Bath & Beyond jumped 14% on a Wall Street Journal report that the retailer had secured new funding that would help boost its cash.

Peloton – Shares jumped 18% after news broke that Peloton had reached a deal to sell some of its fitness equipment and accessories on US e-commerce site Amazon. The move is an attempt to expand Peloton’s consumer base after revenue growth slowed from pandemic highs. The title is down more than 60% since the start of the year.

Toll Brothers – Shares of the luxury homemaker rose 2.6% despite falling revenue in the last quarter and a reduction in its delivery forecast due to supply chain disruptions and problems of workforce. Toll Brothers beat earnings forecasts by 5 cents a share.

Nordstrom – Nordstrom fell 18% after it cut its financial forecast for the rest of the year, citing too much inventory and lower demand. The company reported results on Tuesday that beat earnings and sales for the quarter.

Petco – Shares of Petco fell more than 7% after the company reported disappointing quarterly revenue and earnings results. The company also cut its full-year outlook, citing higher costs ahead.

Intuit – Intuit jumped 4.6% after reporting quarterly results that beat Wall Street’s earnings and revenue expectations. The company also made a positive outlook, increased its quarterly dividend by 15% and increased its share buyback program.

Brinker International – Shares of Brinker International, the parent company of restaurant chains Chili’s and Maggiano’s, fell about 2% after reporting earnings below Wall Street estimates, hurt by rising costs. The company also announced a weaker-than-expected outlook for the full year.

Norwegian, Carnival, Royal Caribbean – Cruise stocks surged on Wednesday as investors bet on the travel names. Shares of Norwegian Cruise Line Holdings jumped more than 7%. Royal Caribbean and Carnival rose 6% and 4.5% respectively. Some cruise lines have announced they will drop Covid-19 vaccination requirements in September.

Advance Auto Parts – Shares of Advance Auto Parts fell 9.5% after the company reported earnings that missed on both top and bottom results. The company also lowered its full-year outlook, citing higher inflation and fuel costs that are hurting the DIY business. AutoZone shares also slipped 3%. – Shares of the Chinese retail giant rose more than 4% on Wednesday. Chinese tech stocks rose broadly, with internet ETF KraneShares CSI China climbing just under 2%. According to FactSet, has also been upgraded to buy from Everbright Securities.

Warner Brothers Discovery – Shares of Warner Brothers Discovery gained 4% after the company announced it would remove more content from HBO Max.

Farfetch – Shares jumped around 22% after the online luxury retail company announced it would take a 47.5% stake in e-commerce fashion retailer YOOX Net-A-Porter from Richemont in Switzerland.

Pinduoduo – Shares of the Chinese online retailer jumped more than 5% following reports earlier this week that it would enter the US market. This is the retailer’s first international expansion.

SoFi Technologies — Shares of the online personal finance company jumped more than 5% after the Biden administration clarified student loan forgiveness. The president announced that he would pardon $10,000 in federal student debt for most borrowers and payments will resume in January 2023.

– CNBC’s Sarah Min, Michelle Fox, Samantha Subin, Yun Li and Jesse Pound contributed reporting.

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