By Liz Moyer
Investing.com -- Stocks were rising on Tuesday as investors awaited the latest inflation data and how the reading, due Thursday, could influence the Fed's next decision on interest rates. Here are the midday movers for Jan. 10.
- Coinbase Global Inc (NASDAQ:COIN) stock rose 6% after the crypto exchange said it was going to cut another 20% of its jobs. It already announced an 18% cut to its workforce in June amid the crypto downturn.
- Bed Bath & Beyond Inc (NASDAQ:BBBY) stock was up 17% after the struggling home goods retailer announced worse than expected revenue and a wider than expected loss for the most recent quarter. It has already said it is exploring options, including a possible bankruptcy filing.
Broadcom Inc (NASDAQ:AVGO) shares were down 3% after a report that Apple (NASDAQ:AAPL) was working on developing its own chips for WiFi and Bluetooth uses. Shares of iPhone maker Apple were down 0.5%.
Oak Street Health Inc (NYSE:OSH) stock rose 28% on a report that CVS Health Corp (NYSE:CVS) was exploring a deal to buy the provider of primary care services for Medicare patients, in a deal worth a possible $10 billion.
Virgin Orbit Holdings Inc (NASDAQ:VORB) shares fell 11% after it's first space launch in the U.K. failed to reach the orbit it needed after malfunctioning during the mission. It had a payload of nine satellites.