A person walks into a Bed Bath & Beyond store in the Tribeca neighborhood of New York City.
Michael M. Santiago | Getty Images
Check out which companies are making the headlines at midday Friday.
Bed Bath & Beyond — Shares of the home goods retailer rose more than 2% after the company announced that three people from activist investor Ryan Cohen’s company, RC Ventures, will immediately join the Bed Bath & Beyond board of directors.
Nio — US-traded shares of the Chinese electric car maker fell 9% after Nio reported its fourth-quarter results. Nio’s fourth-quarter revenue beat expectations, but its forward guidance fell short of StreetAccount’s estimates.
Joby Aviation – The electric airline’s stock jumped 12% on the back of its recent quarterly results. Joby reported earnings of $1 per share after losing 31 cents a share in the same period the previous year. Morgan Stanley also confirmed that the stock is overweight, noting that Joby continues to gain strength and is taking “meaningful steps forward in the certification and manufacturing process.”
Teva — Shares of the drugmaker gained 5.5% after Bernstein upgraded the stock to outperform the market, as Teva launches new products and looks to settle ongoing opioid litigation.
Honest Company – The consumer goods company’s shares fell 22.5% on the back of mixed quarterly numbers. The Honest Company said it lost 10 cents per share on revenue of $80.4 million. Analysts expected a loss of 6 cents a share on $84.6 million in revenue, according to Refinitiv.
Fortinet – Fortinet fell nearly 1% after Bank of America cut its rating to neutral from buy. The bank said that strong earnings growth has already gone into the shares of Fortinet.
Alibaba, JD.com – US-listed Chinese technology stocks fell again on Friday, as they continued to face increased scrutiny in China and possible cancellations from the US. Alibaba stock fell 1.9%, JD.com lost 2.6%, and Pinduoduo stock fell 1.5%. Didi Global was down about 14%.
– CNBC’s Maggie Fitzgerald, Jesse Pound, and Sarah Main contributed reporting