Stocks making the biggest moves midday: Bed Bath & Beyond, Krispy Kreme, Target and more

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Check out the companies making the biggest moves midday:

Target — Shares of the retailer slid more than 2% after its earnings missed Wall Street expectations by a wide margin. The company said its quarterly profit fell almost 90% from a year ago. However, Target reiterated its full-year forecast and said it is now positioned for a rebound.

Bed Bath & Beyond — Shares of the meme stock jumped about 22% on Wednesday, continuing a torrid August rally for the challenged retailer. The stock has seen abnormally high trading volume and is the most popular topic on Reddit page WallStreetBets.

Krispy Kreme — The doughnut chain slid 13% midday after it reported quarterly results that included lower-than-expected profit and revenue. The company also said it has seen significant deceleration in commodity costs in recent weeks.

Weber — Shares of the grill maker dropped more than 8% after Citi downgraded Weber to sell from neutral. The company's weak sales outlook and dwindling cash on hand means that Weber may have to raise additional capital, Citi said.

Teladoc Health — Shares of Teladoc slipped more than 6% after Guggenheim downgraded the company to sell from neutral. The firm said Teladoc's pace of growth is set to slow in a challenging macroeconomic environment with a weakening consumer.

Sanofi — The French drugmaker hit a 52-week low after its U.S.-traded shares dropped about 7%. Sanofi announced Wednesday it discontinued the development of its breast cancer treatment, amcenestrant, after the trial showed no signs that the drug was effective.

AppLovin — Shares of the tech company dropped more than 6% in midday trading. The company's $20 billion bid for Unity was rejected by Unity's board on Monday. Unity shares