By Liz Moyer
Investing.com -- U.S. stocks rose on Wednesday as investors tried to revive a summer rally. Here are the midday movers for Aug. 24:
- Peloton Interactive Inc (NASDAQ:PTON) stock jumped 20% after the connected fitness company said it would sell its bikes and apparel through Amazon.com (NASDAQ:AMZN). It's a bid to broaden its customer base after a post-pandemic slump.
- Bed Bath & Beyond Inc (NASDAQ:BBBY) shares spiked 13% after a report the home goods retailer arranged a loan that will boost its cash and liquidity.
- SoFi Technologies Inc. (NASDAQ:SOFI) stock rose 4.7% after the White House outlined a plan to cancel $10,000 of federal student loan debt for people who make less than $125,000 a year, or $250,000 for a household. About 40% of SoFi's business is student loans.
- Advance Auto Parts Inc (NYSE:AAP) stock fell 9% after the company lowered its outlook, saying inflation was forcing customers to put do-it-yourself projects on the back burner.
- Farfetch Ltd (NYSE:FTCH) stock jumped 20% after the online marketplace for the luxury fashion industry said it would take a nearly 50% stake in the Italian online retailer Yoox Net-a-Porter (BIT:YNAP).