Business

Lowe’s, Target, TJX and more


Check out the companies that make headlines before the alarm goes off:

Lowe’s (LOW) – Lowe’s rallied 1% in money markets after reporting quarterly earnings of $4.67 per share, 9 cents higher than estimates. The home improvement retailer found both sales and comparable store sales to be below analysts’ forecasts but predicts full-year earnings to be at the top of their guidance range.

Target (TGT) – Targets a 3.3% drop in pre-market trading after the retailer reported quarterly earnings of 39 cents per share, far below the 72% consensus estimate. Target’s revenue matched estimates, but it slashed prices significantly during the quarter to reduce excess inventory. Target said its 1.2% active margin in the second quarter will improve to about 6% in the second half of the year.

TJX (TJX) – The parent company of retail chains TJ Maxx and Marshalls beat estimates by 3 cents with quarterly profit of 69 cents per share, but revenue and comparable store sales were lower than expected. . TJX also cut its full-year forecast, saying inflation affected customer spending habits and shares fell 1.2% in money markets.

Krispy Kreme (DNUT) – Krispy Kreme saw a 14.7% drop in selling prices before the donut chain reported lower-than-expected profit and revenue for the second quarter. Krispy Kreme said it is seeing a significant deceleration in the cost of goods in recent weeks.

Manchester United (MANU) – Manchester United rallied 4.6% in the currency market after Elon Musk tweeted he was buying the England football team and later said he was joking.

Outdoor shower bed (BBBY) – Bed Bath & Beyond rallied 22.8% in the market before posting a gain of more than 20% in each session over the past three sessions. The retailer’s stock, favored by “meme stock” investors, has rallied 14 of the past 15 sessions, more than quadrupling in value during that time.

Agilent Technologies (A) – Agilent rose 6.6% in pre-market trading after the life sciences and diagnostics company reported better-than-expected quarterly profit and revenue. Agilent also raised its full-year forecast for strong orders.

Southwest Gas (SWX) – Southwest Gas rose 4.7% in trading before investor Carl Icahn raised his stake in the utility company to 8.7% from 7.6%.

Sanofi (SNY) – Sanofi shares fell 5.4% in pre-market trading after the French drugmaker halted development of a breast cancer drug. Discontinuation comes after a trial showed no indication that the drug was effective.



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