Stocks making the biggest moves midday: Target, Lowe’s, TJX and more
- Date: 18-May-2022
- Source: CNBC
- Sector:Financial Markets
- Country:Middle East
Stocks making the biggest moves midday: Target, Lowe’s, TJX and more
â Shares plunged 25.6% after the retailer reported , citing high fuel costs and inventory troubles. Target posted an adjusted quarterly profit of $2.19 per share, below the $3.07 Refinitiv consensus estimate. The big-box retailer reported lower-than-expected sales of discretionary products. â Walmart dropped 7%, falling for a second session after suffering its worst one-day loss since 1987 on Tuesday. Target's quarterly report echoed similar inflationary challenges Tuesday. Â â The home improvement retailer's shares fell 6.3% on the back of . Lowe's posted revenue of $23.66 billion versus $23.76 expected, according to Refinitiv. Lowe's said cooler spring weather hurt demand for outdoor project supplies. , â Retail names were dragged lower Wednesday by industry giants Target and Walmart, both of which reported struggling with rising costs and inventory woes. Dollar Tree shares tumbled more than 16%, lost more than 11% and Costco slid about 12%. â Shares of the retailer jumped 6.3% after the company reported quarterly earnings that beat analysts' estimates by about 8 cents per share, according to Refinitiv, as other retailers report seeing inflation cut into their profits. Â â Shares rose 15.5% after the footwear retailer beat Wall Street expectations in its latest quarter. Shoe