A customer walks out of a Big Lots store in Clifton, New Jersey.
Emile Wamsticker | Bloomberg | Getty Images
Check out which companies are making the headlines in midday trading.
Lots – Shares jumped 7.8% after the discount retailer posted a smaller-than-expected loss for the last quarter. Revenue also beat expectations, and comparable-store sales fell 9.2% year over year, but it beat analysts’ expectations for a broader decline.
best buy Best Buy shares rose 2.9% after the retailer reported results before the bell on Tuesday that beat Wall Street expectations in terms of top and bottom earnings.
First Solar First Solar hit a 52-week high on Tuesday, with shares up 0.4%. Earlier today, the solar technology company announced that it will do so Invest up to $1 billion In building a new solar panel manufacturing facility in the United States, the company’s CEO said the main catalyst for the move, as well as an additional $185 million upgrade to existing facilities, was tax incentives from the Inflation Reduction Act.
LucidAnd the Nicola – Shares of electric car maker Lucid and Nikola are down 6% and 9%, respectively, after the two companies this week. I moved to collect extra coins. Lucid said in a filing Monday that it plans to issue $8 billion in new shares over the next three years. Nicola said in a statement on Tuesday that he plans to issue up to $400 million in new shares at market prices.
Oil Companies – Oil stocks fell on Tuesday along with commodity prices. marathon oilAnd the Halliburton And the Diamondback Energy Everyone fell by about 5%. chevron It fell more than 3%. The sector led declines in the S&P 500 and Dow.
Baidu Shares of the Chinese tech company fell 8% even though Baidu beat earnings estimates in the second quarter. The company’s revenue fell year-over-year, even as it beat estimates. Baidu also announced that its subsidiary iQiyi is selling $500 million of convertible debt to investment firm PAG Asia.
jack in the box Shares of the fast-food chain fell 9% after the California legislature passed a bill that would create a statewide commission to regulate wages for workers in the industry. The commission will be allowed to raise the minimum wage to $22 an hour in 2023. Chipotle shares are also down about 2% in the news.
bed bath behind – Shares of the retailer fell 4.8% as investors await its turnaround plan, which has been outlined He will be released Wednesday. What happens next for the stock depends on the update, According to Morgan Stanley.
CNBC’s Yoon Lee, Jesse Pound, Samantha Soobin, and Michelle Fox contributed reporting.
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