U.S. stocks moved higher Tuesday as investor sentiment stabilized following the Federal Reserve’s stern message that interest rates are going to continue rising to combat elevated inflation.
Here are 3 tickers trending on Yahoo Finance as of Tuesday morning:
Bed Bath & Beyond (BBBY): Shares of the meme-stock favorite gained momentum Tuesday ahead of the retailer’s turnaround strategy update on Wednesday. The struggling home goods retailer has reportedly secured a new line of credit of around $375 million as it tries to weather recent missteps.
The company is expected to update investors on its efforts to strengthen its balance sheet, also a focus on both it near-term financing needs and any potential sale of the Buy Buy Baby department.
Peloton (PTON): Shares of Peloton edged higher in pre-market trading after the fitness company said it will delay the publication of its annual report to properly calculate impairment charges, “including management’s assessment of the effectiveness of internal controls over financial reporting as it relates to its accounts and disclosures related to these strategic business developments.”
As part of Peloton’s restructuring effort, the company has turned away from in-house deliveries and warehouses, opting to rely on partners instead. These changes will prevent the company from delivering its 10-K report, Peloton said in its filing on Monday. The stock has fallen 62% in the past six months.
Baidu (BEGINNING): Shares of the China-based tech giant jumped Tuesday following second-quarter profit and revenue that beat expectations, boosted by strength in its cloud services as the demand for internet applications increased. Sales dipped to 29.6 billion yuan ($4.3 billion) in the April-June period, above the compared to consensus estimates compiled by Bloomberg, while net income came to 3.6 billion yuan, surpassing the 2.2 billion yuan expected.
Dani Romero is a reporter for Yahoo Finance. Follow her on Twitter @daniromerotv