Midday movers: Bed Bath&Beyond, Chegg, Zoom Video and more

February 7, 2023 1:01 PM EST

By Liz Moyer -- Stocks were falling on Tuesday ahead of remarks by Federal Reserve Chair Jerome Powell. Here are the midday movers for Feb. 7.

  • Bed Bath&Beyond Inc (NASDAQ: BBBY) shares were down 46% after the struggling home goods retailer announced plans to sell up to $1 billion in stock to raise cash. The company has said in recent weeks it is exploring strategic options, including a possible bankruptcy filing.

  • Chegg Inc (NYSE: CHGG) shares fell 19% after the education technology company announced first quarter and full-year guidance that was below expectations.

  • Zoom Video Communications Inc (NASDAQ: ZM) shares jumped 7.8% after its said it was going to cut 15% of its workforce, or about 1,300 employees.

  • Oak Street Health Inc (NYSE: OSH) stock jumped 31% after reports that CVS Health (NYSE: CVS) was nearing a deal to buy the operator of primary care centers for roughly $10B including debt.

  • Royal Caribbean Cruises Ltd (NYSE: RCL) shares rose 3.9% after the cruise operator reported a smaller than expected fourth quarter loss and strong bookings.

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