Check out the companies making headlines in midday trading: Bath & Body Works — The Ohio-based personal care company climbed more than 16%, on pace for its best day since November 2022. The retailer raised its forecast for full-year adjusted profit and said it expects a smaller drop in annual sales, boosted by solid demand for personal care products and new store offerings.
The farm equipment maker rallied 5% after Tractors and Farm Equipment Limited, its largest shareholder with a 16.3% stake and a member of the board, filed to separate the chairman and CEO's roles . "he combined Chair and CEO position has failed to serve the best interests of shareholders and has led to suboptimal strategic and capital allocation decisions," the investor said.
reported that the chipmaker is in talks with the Commerce Department to finalize an $8 billion grant through the CHIPS Act, citing a source familiar with the matter. U.S. Bancorp — The Minneapolis-based regional bank gained 2% after an upgrade to buy from neutral at Citigroup, which said U.S. Bancorp's spending is "turning the corner." Abercrombie & Fitch — The retailer gained 4% ahead of its third-quarter earnings release , expected Tuesday morning.
's Hakyung Kim, Jesse Pound, Yun Li, Michelle Fox, Pia Singh and Scott Schnipper contributed reporting.
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