During Market hours Yesterday (Wednesday – 18.05.2022)

  • The Dow (Symbol: DIA) went down 3.5%. The S&P 500 (Symbol: SPY) sank 4% and the Nasdaq (Symbol: QQQ) lost 4.9%.
  • Target (Symbol: TGT) – Shares plunged 24.9% after the retailer reported disappointing quarterly results, 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.
  • Walmart (Symbol: WMT) – Walmart dropped 6.8%, falling for a second session after suffering its worst one-day loss since 1987 on Tuesday. Target’s quarterly report echoed similar inflationary challenges Walmart reported in its disappointing first-quarter report Tuesday.
  • Dollar Tree (Symbol: DLTR), Costco (Symbol: COST) – 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 14.4%, Dollar General lost 11.1% and Costco slid about 12.5%.
  • TJX Companies (Symbol: TJX) – Shares of the retailer jumped 7.2% 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.
  • Shoe Carnival (Symbol: SCVL) – Shares rose 16.5% after the footwear retailer beat Wall Street expectations in its latest quarter. Shoe Carnival reported a quarterly profit of 95 cents per share, 9 cents above the Refinitiv consensus estimate. The company also raised its full-year outlook.
  • Container Store (Symbol: TCS) – Shares gained 7.1% after the storage and organization products retailer posted better-than-expected profit and revenue for its latest quarter. The container Store also said it aimed to reach $2 billion in annual sales by 2027.
  • Doximity (Symbol: DOCS) – The cloud-based platform dropped 10.3% after issuing a current-quarter revenue forecast below Wall Street estimates.

During Premarket hours today (Thursday – 19.05.2022)

  • BJ’s Wholesale (Symbol: BJ) – The warehouse retailer jumped 5.8% in the premarket after an upbeat earnings report. BJ’s beat estimates by 15 cents with adjusted quarterly earnings of 87 cents per share. Revenue and comparable-store sales were also better than expected.
  • Canada Goose (Symbol: GOOS) – The outerwear maker’s stock rallied 8.9% in premarket action after the company reported an unexpected profit as well as better-than-expected revenue. Canada Goose also raised its full-year forecast.
  • Cisco Systems (Symbol: CSCO) – Cisco tumbled 10.7% in the premarket after cutting its full-year forecast. The networking equipment maker is seeing its sales hit by Covid lockdowns in China and the war in Ukraine. Networking rivals fell in the wake of Cisco’s forecast with Juniper Networks (JNPR) down 4.6% in the premarket and Broadcom (AVGO) down 3.8%.
  • Bath & Body Works (Symbol: BBWI) – Bath & Body Works reported better-than-expected profit and revenue for its latest quarter, but the personal care products retailer cut its full-year earnings forecast due to inflationary factors and increased investments. The stock slumped 6.8% in the premarket.
  • Synopsys (Symbol: SNPS) – Synopsys rallied 4.2% in premarket trading after the design automation software company reported better-than-expected profit and revenue for its latest quarter and issued an upbeat forecast.

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