Movers: Bed Bath & Beyond, Coinbase, Danaher, Frontline, Euronav, Sotera, Virgin Orbit

Scott Peters
10 Jan, 2023
New York City

Bed Bath & Beyond Inc soared 30% to $2.12 after the struggling retailer reported wider-than-expected loss. 

Revenue in the fiscal third quarter ending on November 26 declined 33% to $1.26 billion and comparable store sales declined 34% from  a year ago. 

Net loss in the quarter jumped to $392.6 million from $276.4 million or diluted loss per share rose to $4.33 from $2.78 a year ago. 

Coinbase Global Inc increased 4.0% to $39.79 after the cryptocurrency exchange said it plans to lay off additional 950 staff according to a blog post. 

Coinbase said the new layoffs are expected to cost between $149 million and $163 million in the first quarter, according to a regulatory filing. 

The cryptocurrency exchange laid off about 1,000 employees in June 2020. 

Coinbase listed its stock through a direct listing on the Nasdaq on April 14, 2021 at a price of $250and closed at $328.55 valuing the company at close to $86 billion. 

Danaher Corp increased 4.3% to $266.0 after the diversified medical and environmental products maker revised higher its fourth quarter outlook. 

The estimated revenues are anticipated to increase in the "low-single digit percent range" from a year ago . 

The estimated non-GAAP core revenue growth in the "high-single digit percent range," higher than the previously announced guidance of "flat to a low single digit percent decline." 

Frontline Ltd increased 21.6% to $13.83 after the oil tanker shipping company said it terminated its merger talks with Euronav NV. 

The merger fell apart after Euronav's largest shareholder Compagnie Maritime Belge controlled by the Saverys family with a stake of 13% lined up additional support from other shareholders to block the deal.  

Euronav dropped 17.1% to $13.22. 

Sotera Health Company soared 93% to $16.63 after the company said it agreed to settle more than 870 cases pending in two court cases in Illinois related to the release of carcinogen ethylene oxide 

Under the agreements, the company and its subsidiary Sterigenics will pay $408 million to settle the claims. 

Virgin Orbit Holdings Inc plunged 12.4% to $1.69 after the satellite launch service provider confirmed that its premier launch from the UK soil failed to reach target  orbit. 

"However, at some point during the firing of the rocket