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

By Liz Moyer

Investing.com -- 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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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.