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Stocks - Target, Lowe's Rise Premarket; TJX Falls

Stock MarketsAug 19, 2020 08:14AM ET
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© Reuters.

By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Wednesday, August 19th. Please refresh for updates.

  • Lowe’s (NYSE:LOW) stock rose 2.7% after its same-store comparable sales rose over 34% in the second quarter, benefiting from a surge in demand for home improvement products amid the pandemic.

  • Target (NYSE:TGT) stock rose 8.2% after reporting its best quarterly comparable sales growth and online revenue that nearly tripled in the second quarter.

  • TJX (NYSE:TJX) stock fell 5.1% after reporting that its open-only comparable store sales were down 3% in the second quarter. That said, the retailer paid off the $1.0 billion it drew down from its revolving credit facilities in March.

  • Regeneron (NASDAQ:REGN) stock rose 1.2% after the pharma agreed a deal with Swiss giant Roche to help manufacture and distribute its experimental Covid-19 drug. This pairing could more than triple supplies of the medicine if it is authorized by regulators, the companies said.

  • General Motors (NYSE:GM) stock rose 0.3% amid speculation that the car manufacturer will spin off its electric vehicle business to better take on the likes of Tesla (NASDAQ:TSLA).

  • Momenta Pharmaceuticals (NASDAQ:MNTA) stock rose 69% after the announcement that it was being bought by Johnson & Johnson in an all-cash deal valued at $6.5 billion. J&J is looking to expand into the area of autoimmune disease treatments.

  • Gilead (NASDAQ:GILD) stock fell 4.2% after the FDA rejected the company’s filing for approval of its potential rheumatoid arthritis blockbuster drug, also dragging down its partner Galapagos (NASDAQ:GLPG). Its ADR dropped 28%.

  • Sorrento (NASDAQ:SRNE) stock fell 11% after the biotech drug maker abruptly fired CFO Jiong Shao, saying his employment was "terminated in its entirety" on Monday.

  • Jack Henry & Associates (NASDAQ:JKHY) stock fell 6.8% after the technology company issued a weak outlook for full year earnings after the close Tuesday.

  • Agilent (NYSE:A) stock fell 2.9% after the healthcare equipment and services company reported late Tuesday that third quarter 2020 revenues fell 1% year over year.

  • Southwest Airlines (NYSE:LUV) stock rose 1.8% after the airline lowered its cash burn estimate for the third quarter. The company. also experienced a modest improvement in passenger demand so far in August, while acknowledging that revenue and traffic remained weak in July. 

 

Stocks - Target, Lowe's Rise Premarket; TJX Falls
 

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