FCX - Why Bed Bath & Beyond Ra Pharmaceuticals and Freeport-McMoRan Jumped Today
Stock market participants displayed a positive attitude on Thursday, apparently buoyed by signs that leaders of the U.S. and China will at least keep meeting in an effort to resolve their differences on trade issues. Major benchmark indexes were up by around half a percent on the day, and with earnings season just about to kick off, investors are looking forward to getting more signs about the likely direction of the U.S. economy for the rest of the year.
Some stocks experienced extremely strong gains due to company-specific good news. Bed Bath & Beyond (NASDAQ: BBBY), Ra Pharmaceuticals (NASDAQ: RARX), and Freeport-McMoRan (NYSE: FCX) were among the day's top performers. Here's why their shares did so well.
Shares of Bed Bath & Beyond jumped 21% after the home goods retailer announced that it had named a permanent chief executive officer: Mark Tritton, previously the chief merchandising officer for Target. Shareholders were quite happy with the move, as Target has been extremely successful in finding ways to overcome a tough environment for traditional brick-and-mortar department stores. Bed Bath & Beyond is hopeful that Tritton can work the same magic with home goods, and shareholders appear to have a lot of confidence in his ability to get the retailer moving in the right direction again.