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Midday Movers: Target, Bed Bath & Beyond, Manchester United and More

By Liz Moyer

Investing.com -- U.S. stocks fell on Wednesday after a disappointing earnings report from Target. Here are the midday movers for Aug. 17:

  • Target Corporation (NYSE:TGT) shares fell 2.4% after the retailing giant said its quarterly earnings fell 90% as it slashed inventory prices to clear it out and get it ready for holiday sales. It kept its outlook for the year.
  • Bed Bath&Beyond Inc (NASDAQ:BBBY) shares rose another 21% on Wednesday, continuing a streak of sizeable gains as retail investors engaged in the meme stock trade continued to bid it higher despite bearish analyst notes.
  • Manchester United Ltd (NYSE:MANU) stock rose nearly 5% after Tesla (NASDAQ:TSLA) CEO and billionaire Elon Musk tweeted overnight that he was buying the U.K. football team and then said he was just joking. 
  • Sanofi ADR (NASDAQ:SNY) shares sank 7% after the pharmaceutical company halted development of a breast cancer treatment because trials failed to demonstrate its effectiveness.
  • Teladoc Inc (NYSE:TDOC) shares were down nearly 7% after Guggenheim analysts downgraded it to sell from neutral, citing its exposure to the consumer market. 

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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.