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Midday Movers: Target, Lowe's, Doximity

Published 05/18/2022, 11:59 AM
Updated 05/18/2022, 12:04 PM
© Reuters.

By Sam Boughedda

Investing.com -- It's a down day Wednesday with the Dow and S&P 500 slumping more than 2% and the Nasdaq tumbling over 3%. Here are your midday movers on Wednesday, May 18th.

  • Target  (NYSE:TGT) has plummeted 24% after the company's first-quarter profit halved, missing analyst expectations. The retailer said high costs and inventory issues impacted profits.
  • In contrast, TJX Companies (NYSE:TJX) is up just under 9% after it beat profit expectations but missed revenue estimates. The company said its first-quarter pretax profit margin and earnings per share exceeded its plans even though sales were slightly below its expectations.
  • Walmart (NYSE:WMT) has continued to slide, currently down 6.3% following Tuesday's 11% decline after it missed profit expectations.
  • Shoe Carnival (NASDAQ:SCVL) has tumbled 15.3% following its revenue miss. The company beat profit expectations, but posted revenue of $317.5 million, missing estimates of $318.2 million by analysts polled by Investing.com.
  • Lowe’s Companies (NYSE:LOW) is down 5% midday after it also missed revenue expectations. The home improvement retailer’s comparable-store sales were also below expectations. However, its quarterly profit topped estimates.
  • Doximity (NYSE:DOCS) has fallen 11.8% after it missed guidance expectations. The company sees fiscal first-quarter revenue between $88.6 million and $89.6 million, below the $96.78 million expected.

Latest comments

Maybe prodits are down because when you go into a big box there are no checkers, you scan lines ate down, more and wider displays in the aisles, making it more difficult to get around(*), and employees who know nothing. (*) Maki g the store a fire trap.
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