Companies are making news in midday trading.
The company missed revenue estimates and posted a bigger-than- expected loss in the recent quarter. Mark Tritton is leaving Bed Bath & Beyond.
Morgan Stanley cut its price target on the stock of the cruise line operator and said it could go to zero in the face of another demand shock. Other cruise stocks were affected by the call. Royal Caribbean dropped more than 10%.
Morgan Stanley lowered the stock's rating to underweight from equal weight. Upstart's growth trajectory is being hurt by a troublesome macro environment and rising interest rates.
The stock of Bath & Body Works fell after it was upgraded by JP Morgan. The firm lowered its second quarter and full-year earnings estimates for Bath and Body Works.
Bank of America has a buy rating on Teradyne shares. The firm thinks that Teradyne's exposure to Apple could hurt the stock.
The Wall Street Journal reported that the company is closing its San Mateo office and laying off 200 workers. CNBC confirmed the story.
The stock jumped after General Mills reported better than expected earnings. The company's full-year profit estimates were lower than expected due to a consumer shift to cheaper brands.
O'Reilly automotive was upgraded to buy from neutral by D.A. Davidson. O'Reilly is the preferred way to play the auto parts theme, according to the firm. The auto parts companies are more likely to weather downturns than other retailers.
Atlantic Equities upgraded to overweight on Mcdonald's shares. As consumer spending slows, the hamburger chain will hold out.
Bank of America upgraded Goldman to a buy from a neutral rating and said the bank will thrive in an economic downturn.
CNBC contributed reporting.
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