Bed Bath & Beyond launched an equity offering to raise more than $1 billion to repay debt.
Dreamstine
Stock futures edged higher Tuesday as Wall Street looked ahead to a speech from Federal Reserve Chairman Jerome Powell hoping it gets a clearer picture of the central bank’s path for interest rates.
These stocks were poised to make moves Tuesday:
Bed Bath & Beyond
(BBBY) was down more than 31% in premarket trading after the struggling retailer said it launched an equity offering to raise more than $1 billion to repay debt. The stock closed Monday’s session with a gain of 92.1%.
Online-education company Chegg (CHGG) fell 23.9% after issuing first-quarter and full-year revenue guidance that was below analysts’ expectations.
CVS Health (CVS) is close to an agreement to acquire Oak Street Health (OSH) for about $10.5 billion including debt, The Wall Street Journal reported. Shares of Oak Street were surging nearly 35% in premarket session. CVS fell 1.5%.
Pinterest (PINS) was down 3.9% in premarket trading after the social media company issued soft revenue guidance for the first quarter, and announced the resignation of Chief Financial Officer Todd Morgenfeld.
American depositary receipts of BP (BP) were rising 2.2% in premarket trading after the oil giant said Tuesday it would boost spending on oil and gas, easing its transition to producing low-carbon energy.
BP
also reported adjusted profit for the year of $27.7 billion.
DuPont
(DD) and
Royal Caribbean
(RCL) are scheduled to report quarterly earnings before the stock market opens Tuesday.
Write to Joe Woelfel at joseph.woelfel@barrons.com
Credit: marketwatch.com