Markets in the U.S. were weighed down on Tuesday by concerns over a hard Brexit. The Nasdaq Composite closed the day down 0.21% to 5,289.66. Declining issues outnumbered advancing ones, but three stocks went against the grain and managed to rally on the day: Expedia (EXPE), Jd.Com Inc. Ads (JD), Bed, Bath & Beyond (BBBY). Here’s why:
Expedia was up 0.26% on Tuesday. Two things may have helped the stock. A new study showed that direct bookings with hotels will not hurt Expedia and its competitors. The study found that the industry will likely only face a 1.5% headwind.
Expedia CEO Dara Khosrowshahi also stated at the GeekWire Summit 2016 that a Trump presidency would be bad for business and plans to move the headquarters to Seattle are still moving full-speed ahead.
2. Jd.Com Inc. Ads
Jd.Com Inc. Ads climbed 5.29% on Tuesday. No recent news has emerged to explain the jump in the stock, but the company did announce a new partnership with Bacardi in early September. JD.com will now be Bacardi’s e-commerce partner for its full product line in China. Through the partnership, consumers in China will gain access to Bacardi products through JD.com.
3. Bed Bath & Beyond (BBBY)
Bed Bath & Beyond climbed 2.35% on Wednesday. The company is testing a membership program that would give members a 20% discount on purchases either online or in stores. Free standard shipping would be offered as well. The program would come at a cost of $29 a year and is the company’s attempt to compete with Amazon Prime and Wal-Mart.
The company also plans on ditching its 20% coupons in exchange for the membership program if the program is successful in testing.
Bed Bath & Beyond said that while the coupons got customers through the door, the promotions had backfired on the company, as customers reached a point where they wouldn’t shop unless they had a 20% coupon.