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5 Top Stock Gainers for Wednesday: Bed Bath & Beyond, CVS, Uber

Bed Bath & Beyond, CVS, Uber, R.R. Donnelly and T-Mobile are five top stock gainers for Wednesday.

Stocks closed at record highs for the third straight day Wednesday after the Federal Reserve said that later this month it would begin slowing the pace of its $120 billion in monthly bond purchases.

Here are some of the big movers in the stock market on Wednesday:

1. Bed Bath & Beyond | Increase 15%

Bed Bath & Beyond  (BBBY) - Get Bed Bath & Beyond Inc. Report shares soared after the retailer made a flurry of announcements including the launch of a digital marketplace that will sell goods from third-parties. The moves ignited a suspected short-squeeze on the stock. The company also unveiled a partnership with grocery chain Kroger  (KR) - Get Kroger Co. Report.

2. CVS Health | Increase 5.7%

Shares of CVS Health  (CVS) - Get CVS Health Corporation Report jumped after the drugstore chain posted stronger-than-expected third quarter earnings, and lifted its 2021 profit forecast. COVID-19 vaccinations powered solid gains in retail and pharmacy sales. Revenue rose 10% from a year earlier to $73.8 billion, beating analysts' estimates of $70.5 billion.

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3. Uber Technologies | Increase 6.6%

Uber Technologies  (UBER) - Get Uber Technologies, Inc. Report climbed after rival Lyft  (LYFT) - Get Lyft, Inc. Class A Report beat analysts' third-quarter forecasts and investors recalibrated their expectations for the ride-sharing company's third-quarter earnings, due out on Thursday. Analysts surveyed by FactSet expect the company to report a loss of 33 cents a share on sales of $4.42 billion.

4. R.R. Donnelly & Sons | Increase 38%

Shares of R.R. Donnelly & Sons  (RRD) - Get R.R. Donnelley & Sons Company Report jumped after the commercial printing company said it had agreed to acquired by by private investment firm Atlas Holdings in a deal enterprise valued at about $2.1 billion. RR Donnelly’s biggest investor, Chatham Asset Management, raised its offer to buy the remaining shares of the company for $9 to $9.50 a share from its $7.50-bid in October.

5. T-Mobile | Increase 5.3%

T-Mobile  (TMUS) - Get T-Mobile US, Inc. Report shares advanced after the mobile communications company beat Wall Street's third-quarter earnings expectations and raised its guidance. Total revenue increased 2% year-over-year to $19.6 billion, the company said, and total service revenue increased 4% year-over-year to $14.7 billion, driven by continued customer growth.