Bed, Bath & Beyond ( NASDAQ: BBBY ) is out ahead in the markets by more than 25% after the company secured a new loan deal. Also trending higher are shares of Tattooed Chef ( NASDAQ: TTCF ), as the stock closed a new distribution deal.
In reverse, Petco Health and Wellness Company ( NASDAQ: WOOF ) have retreated after the company posted a weak Q2 earnings report. Also in the red is Medtronic ( NYSE: MDT ) after the stock was downgraded.
Gainers
Bed, Bath & Beyond ( BBBY ) surged 28.8% in premarket trading as the home goods retailer selected a lender and secured a loan deal . BBBY has been seeking around $375M to boost its cash levels and help pay down existing debt.
Shares of Tattooed Chef ( TTCF ) jumped higher by 11.3% after the company announced an expanded distribution deal with Walmart ( WMT ) and a $10M asset purchase agreement with Desert Premium.
Decliners
Petco Health and Wellness Company ( WOOF ) dove 6.5% after the pet retailer delivered weak second quarter Non-GAAP EPS and revenue . WOOF posted Q2 Non-GAAP EPS of $0.19,which missed estimates by $0.03. Furthermore, the company also came up short on revenue as it posted $1.48B, which was short of the consensus figure by $10M.
Medtronic ( MDT ) shares slipped 0.5% despite posting stronger than anticipated financials for 1Q FY23. Additionally, Raymond James downgraded the MedTech firm from an Outperform to Market Perform, citing growth concerns in the second half of the fiscal year.
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Hot Stocks: BBBY surges on loan deal, TTCF jumps 10%, WOOF sinks on earnings and MDT dips