Target Earnings Outlook Hiked Above Views. TGT Stock Pegs A High.
Target reported strong fiscal second-quarter earnings that exceeded analyst expectations, leading to a new high for TGT stock. Other retailers like Lowe's saw gains, while TJX Companies experienced a slight decline despite positive earnings.
Why it matters
Retail earnings reports provide critical insight into consumer spending habits and the overall health of the U.S. economy.
Target earnings easily beat fiscal second-quarter earnings views early Wednesday, while revenue, same-store sales and guidance also were strong. TGT stock made a new high. TJX Cos. (TJX) fell 1.3% despite the off-price retailer slightly topping Q2 earnings estimates. Home improvement chain Lowe's (LOW) jumped 4% despite mixed results and some weak guidance. Among other retail earnings, Walmart (WMT) and...
10:00 AM ET The S&P 500 and Nasdaq rose slightly Wednesday as Treasury yields fell. Moderna and Merck fueled big gains for biotechs,...
10:00 AM ET The S&P 500 and Nasdaq rose slightly Wednesday as Treasury...
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