Midday movers: Target, Lowe's, Advance Auto Parts and more By Investing.com

No-Recession Predictions Begin to Look More Plausible, but Risks Remain Too High

Midday movers: Target, Lowe's, Advance Auto Parts and more

Published Nov 16, 2022 01:38PM ET Updated Nov 16, 2022 01:48PM ET

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Midday movers: Target, Lowe's, Advance Auto Parts and more

-0.25%

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TGT

+0.72%

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LOW

+2.58%

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DPZ

+1.06%

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AAP

+6.46%

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QSR

+2.16%

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By Liz Moyer

Investing.com -- Stocks trended lower on Wednesday on a downbeat report from Target that put a damper on hopes for holiday sales. Here are the midday movers for Nov. 16:

Target Corporation (NYSE:TGT) shares fell 12% after it reported its profit in the recent quarter fell 50% as it continued to clear out excess inventory. It aims to cut $3 billion in costs over the next few years. Results for the quarter fell short of expectations.
Lowe’s Companies Inc (NYSE:LOW) stock rose 3.8% after the home improvement retailer reported better than expected results and raised its full year outlook. Same store sales rose 2.2% and it foresees full year sales between $97 billion and $98 billion.
Advance Auto Parts Inc (NYSE:AAP) stock fell 16% after same store sales dipped and it missed expectations for the quarter. It lowered its EPS guidance.
Micron Technology Inc (NASDAQ:MU) stock fell 7% after it said it was cutting its memory chip production by 20% and said the market outlook has weakened.
Restaurant Brands International Inc (NYSE:QSR) stock rose 6.6% after the Burger King parent said it had named former Domino's Pizza (NYSE:DPZ) CEO Patrick Doyle as its executive chairman to "unlock growth."

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Midday movers: Target, Lowe's, Advance Auto Parts and more

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