Welcome to Extreme Investor Network, where we provide you with unique insights and expert analysis on the latest market trends and stock movements. Today, we are taking a closer look at some of the stocks making notable moves before the opening bell.
Target is off to a strong start, with shares jumping nearly 14% in the premarket after the retailer posted second-quarter results that exceeded expectations. Earnings per share came in at $2.57, with revenue totaling $25.45 billion. While analysts were anticipating a profit of $2.18 per share on revenue of $25.21 billion, Target maintained a cautious outlook for the full year.
On the other hand, Chinese tech company JD.com saw its shares fall more than 8% after Walmart confirmed that it was selling its stake in the online retailer. Macy’s, the department store operator, also faced a decline of over 6% as it cut its full-year sales forecast due to selective shoppers and increased promotions.
In the tech sector, Texas Instruments saw a 2% rise after being upgraded to buy from neutral at Citi. The investment firm cited the potential for operating margins to rebound in the coming quarters. Similarly, Corning’s shares gained 1.7% following an upgrade to outperform from neutral by Mizuho, highlighting growth opportunities in its optical glass fiber business.
Electronics company Keysight Technologies experienced an 11% jump in its shares after reporting better-than-expected revenue in the fiscal third quarter. Toll Brothers, the homebuilder, also saw a 1% increase in its stock price after exceeding earnings expectations and raising its full-year guidance.
However, not all stocks fared as well, with beauty company Coty dipping more than 1% after missing expectations for the June quarter. The company reported a loss of 3 cents per share on $1.36 billion in revenue, falling short of analyst estimates.
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