Abercrombie & Fitch, Disney, Best Buy, Zoom and more

A pedestrian stands outside the Abercrombie & Fitch store on Fifth Avenue in New York City.

Craig Warga | Bloomberg | Getty Images

Check out the companies making the headlines in afternoon trading.

Abercrombie & Fitch – Shares of the retail stock rose 21.4% after the apparel retailer beat Wall Street’s revenue forecast for the third quarter and posted an unexpected quarterly profit. The company said demand for clothing has increased as consumers have returned to work and have increasing social obligations.

disney – The entertainment giant fell 1.4% as investors continued to respond to the dramatic ouster of its CEO. Deutsche Bank reiterated that the stock is a buy and said it does not see any significant changes coming to its direct-to-consumer strategy.

Enlarge videos — Shares of the video conferencing company fell 3.9% after the company issued lower-than-expected revenue guidance for the full fiscal year. Zoom’s quarterly earnings beat estimates, while revenue met expectations.

Best buy – Shares of Best Buy rose 12.8% after the consumer electronics retailer topped Wall Street estimates and met its holiday forecast. Demand remains below pandemic levels, but Best Buy has indicated it is doing well even as inflation weighs on consumers’ pockets.

dollar tree – The discounter saw shares fall 7.8% after the company forecast full-year earnings in the bottom half of its previous range. The stock also slipped after the company beat top and bottom estimates for its latest quarter and better-than-expected comparable store sales.

Sporting Goods by Dick – Shares of the sporting goods retailer rose 10.1% after the company reported better-than-expected quarterly profits and revenues and increased comparable store sales. Dick’s also raised its financial forecast for the full year.

Medtronic – Shares of the medical device maker fell 5.3% after missing revenue expectations, narrowly beating earnings per share. The company said it was hurt by the rising US dollar and a smaller-than-expected bounce in proceedings involving its equipment.

Dell – The tech maker added 6.8% after its report showed it topped estimates for the third quarter but had a weaker-than-expected revenue forecast for the current quarter. The company said consumers would be pinched by the economic slowdown and inflation.

Coin basis – Shares of the cryptocurrency exchange rose 5.2% with broader markets. Bitcoin turned positive after briefly hitting a two-year low. Coinbase’s share price tends to trade in tandem with the price of bitcoin, in part due to its heavy reliance on trade revenue. The cryptocurrency market is also shrugging off fears about the potential damage that could result from the FTX crash. Several crypto stocks were higher by noon on Tuesday.

BP extension – Shares of the oil giant gained 5.3% following an upgrade to buy from neutral from Citi, which said it had good valuation and free cash flow yield, but also likely able to to differentiate itself from European competitors.

Airbnb – The vacation rental platform lost 0.5% as it was downgraded to neutral on Baird’s outperformance on concerns about contracting consumer spending.

Walgreens Boots Alliance – Shares gained 3% on an update to outperform Cowen’s market performance. The firm said the market is paying too much attention to Walgreens’ retail business, saying the stock could rise more than 30% as the company transforms its health services business.

Brothers Toll – Shares of Toll Brothers gained 2.1% after JPMorgan lifted the stock to overweight, saying the homebuilding stock is trading at a discount to its peers.

ObsEva – Shares of the biotech company jumped 16.5% on news of the sale to XOMA of the rights to ebopiprant, a potential treatment for preterm labor. The company got $15 million upfront with potential future payments that could bring in another $98 million.

Nvidia And Advanced Micro Devices – Tech companies gained 4.7% and 3.9%, respectively, after BMO reiterated both stocks as outperformers and said it could see “outsize” equity gains.

Urban fitters – Urban Outfitters’ share rose 8.9% after it reported third-quarter revenue on Monday that beat Wall Street’s expectations, though its earnings per share were slightly lower than estimates. BMO Capital Markets and Telsey Advisory Group both strengthened their price targets and maintained their market yield and outperform ratings, respectively.

agile – Shares of the life sciences company gained 8.1% after reporting that it beat expectations for the latest quarter as all of its business units increased sales.

AgriFresh solutions – The chemical company focused on food loss prevention gained 5.6% after announcing its merger with Paine Schwartz Partners. All of AgroFresh’s outstanding shares will be obtained for $3 a share, which is 7.5% higher than Monday’s close.

– CNBC’s Samantha Subin, Yun Li, Tanaya Macheel and Michelle Fox contributed report.

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