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Bed Bath & Beyond, Coinbase, Virgin Orbit and more

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Virgin Orbit’s LauncherOne rocket on display in Times Square, New York.

CNBC | Michael Sheetz

Check out the companies that make the biggest moves at noon:

virgin orbit — The satellite launch services company is down 12% a day after confirming that its first launch outside the UK on Monday failed to reach orbit. The mission was Virgin Orbit’s sixth to date and its second failed launch.

Danaher — Shares of Danaher rose more than 4% after the maker of medical, industrial and commercial products released an upbeat guidance for fourth-quarter non-GAAP core earnings. The company now expects growth in the high single digits year over year. Previously, it projected low single-digit percentage declines.

sotera health — Stocks soared nearly 90% a day after Sotera Health announced settlement of more than 870 cases related to exposure to ethylene oxide, a carcinogen, from its Willowbrook facility. The company, which said the settlement is not an admission that the emissions pose a safety risk, agreed to pay $408 million.

Warner Bros. Discovery — The media company’s stock jumped more than 6% after Bank of America added the shares to the “US1” list. The Wall Street firm said it remains bullish on longer-term potential and sees the current risk/reward as “highly attractive”.

Coinbase — Stocks jumped nearly 6% after the cryptocurrency exchange shared plans to reduce its workforce by 20%. The cuts come after Coinbase laid off 18% of its workforce in June as cryptocurrency prices and its shares declined.

bed bath and beyond — The retailer jumped nearly 19%. The change came after the earnings release, in which leadership said the company had incurred larger-than-expected losses. Days earlier, the company warned of a possible bankruptcy.

oak street health – Shares in Oak Street Health, a healthcare company that runs primary care centers for Medicare patients, jumped 28% after Bloomberg reported that CVS is exploring a deal to buy it for more than $10 billion.

Regeneron Pharmaceuticals – Shares rose 2.9%, a day after shares fell about 7.7% on news that sales of the pharmaceutical company’s drug Eylea were hurt by a switch to an off-label competitor in the last quarter of 2022. On Tuesday, CEO Leonard Schleifer told CNBC that the activity was “transient” and is not expected to have any impact on Eylea’s long-term trajectory.

Frontline — The shipping company’s shares rose 26% after Frontline announced it was ending a merger deal with Euronav. The plan called for Frontline to acquire Euronav in a full stock deal. CEO Lars Barstad said in a statement that both carriers “are already enjoying economies of scale”.

bumble — Dating app stocks rose 5.9% after an update to overweight sector weight in KeyBanc equity markets. The company said it is increasingly confident in the company’s ability to capitalize on online dating trends and grow revenue.

illuminate — Stocks were down 5% in midday trading. The gene-sequencing technology company appealed an EU antitrust order blocking its merger deal with biotechnology company Grail on Tuesday. A day earlier, Illumina said it expected its fiscal 2023 consolidated revenue to be between $4.9 billion and $5.035 billion, versus a StreetAccount estimate of $5.005 billion.

CureVac — The biopharmaceutical company gained nearly 14% after it said it plans to move forward with patient trials of its mRNA vaccines for Covid-19 and flu. CureVac also announced that Sanofi veteran Alexander Zehnder will become CEO in April.

Agilent Technologies — Stocks rose more than 4% a day after the company announced a $2 billion share buyback program. Agilent also said it is investing $725 million to double production capacity.

in semiconductor — Semiconductor stocks fell nearly 3% after being downgraded by William Blair for market performance. Analysts said On Semiconductor continues to struggle with GT Advanced technologies and that its silicon carbide yields are half of its original assumptions.

dish net — The satellite TV company was down 3% in midday trading. Goldman Sachs reinstated its neutral rating on Tuesday, noting that while the company is poised to gain share, it faces significant execution risk and accelerating cord-cutting. The company’s $14 price target implies an 11.5% decline from Monday’s close.

— CNBC’s Samantha Subin, Alex Harring, Yun Li, Tanaya Macheel, Carmen Reinicke, Jesse Pound, and Michael Bloom contributed reporting.

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