Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Target, Lowe's, Netflix Fall Premarket; TJX Rises

Stock Markets May 18, 2022 07:54AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Peter Nurse

Investing.com -- Stocks in focus in premarket trade on Wednesday, May 18th. Please refresh for updates.

  • Target (NYSE:TGT) stock slumped 23% after the big-box retailer’s first-quarter profit halved and it warned of a bigger margin hit due to rising fuel and freight costs.

  • Lowe’s (NYSE:LOW) stock fell 2.9% after the home improvement retailer reported a bigger-than-expected drop in same-store sales, as demand eased for its tools and building materials from pandemic highs.

  • TJX Companies (NYSE:TJX) stock rose 2.3% despite the discount store operator cutting its full-year sales forecast. It still expects U.S. same-store sales growth to be at 1% to 2% for the full year.
  • Netflix (NASDAQ:NFLX) stock fell 1.1% after the streaming giant said it has laid off about 150 people, approximately 2% of the company's workforce in the United States and Canada, as it faces slowing growth.

  • JPMorgan (NYSE:JPM) stock fell 0.4% after the lender’s shareholders rejected the special $52.6 million stock option award directors awarded CEO Jamie Dimon last year to stay on the job for at least five more years.

  • Twitter (NYSE:TWTR) stock fell 1% after the social messaging platform's board announced the company planned to hold Elon Musk to his legal commitments regarding the leveraged buyout offer of $54.20 a share, considerably above Tuesday’s $38.32/share close.

  • Trump Media & Technology Group (NASDAQ:DWAC) stock fell 1.6% after former president Donald Trump's new media company formally announced the launch of its social media app. The filing had also warned of bankruptcy risk.

  • Warby Parker (NYSE:WRBY) stock fell 3% after Goldman Sachs downgraded its stance on the online eyewear retailer to ‘neutral’ from ‘buy’, citing “fading confidence” in its revenue outlook.

  • Visa (NYSE:V) stock rose 0.6% and Mastercard (NYSE:MA) stock 0.2% after Goldman Sachs initiated coverage on the two credit card giants with ’buy’ ratings, saying they can rally more than 30% as they navigate surging inflation.

Target, Lowe's, Netflix Fall Premarket; TJX Rises
 

Related Articles

Cold and hungry: Food inflation bites Canada's north
Cold and hungry: Food inflation bites Canada's north By Reuters - Aug 08, 2022

By Rod Nickel IQALUIT, Nunavut (Reuters) - In Canada's remote north, residents have long paid dearly for food, and rising prices have worsened an already dire situation, exposing...

Wall Street muted on mixed inflation messages
Wall Street muted on mixed inflation messages By Reuters - Aug 08, 2022 9

By Lawrence Delevingne (Reuters) -U.S. stocks were mostly flat on Monday, the dollar weakened and U.S. government bond yields fell as investors weighed mixed messages on inflation...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with other users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:  

  •            Enrich the conversation, don’t trash it.

  •           Stay focused and on track. Only post material that’s relevant to the topic being discussed. 

  •           Be respectful. Even negative opinions can be framed positively and diplomatically. Avoid profanity, slander or personal attacks directed at an author or another user. Racism, sexism and other forms of discrimination will not be tolerated.

  • Use standard writing style. Include punctuation and upper and lower cases. Comments that are written in all caps and contain excessive use of symbols will be removed.
  • NOTE: Spam and/or promotional messages and comments containing links will be removed. Phone numbers, email addresses, links to personal or business websites, Skype/Telegram/WhatsApp etc. addresses (including links to groups) will also be removed; self-promotional material or business-related solicitations or PR (ie, contact me for signals/advice etc.), and/or any other comment that contains personal contact specifcs or advertising will be removed as well. In addition, any of the above-mentioned violations may result in suspension of your account.
  • Doxxing. We do not allow any sharing of private or personal contact or other information about any individual or organization. This will result in immediate suspension of the commentor and his or her account.
  • Don’t monopolize the conversation. We appreciate passion and conviction, but we also strongly believe in giving everyone a chance to air their point of view. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (5)
Mike Singh
Mike Singh May 19, 2022 9:50PM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
Biden's and all his administration policies will cause recession and will bankrupte this country, companies and all of us. Just watch out for one world government run by these administration which will led to dictatorship. Americans need to watch what the propergander they are feeding us. Next is world War III. which will set us back hundred years and then everyone dies from nuclear acid rain for next fify years. Speek up and vote to impech them as soon as we can before its to late. Biden is only a face of the administration but all the darkness is hidden behind him who are doing it.
MS MS
MS MS May 18, 2022 9:28AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
“The filing had also warned of bankruptcy risk.” Im not invested in DWAC but every single filing Ive ever read for any growth company has a risk of bankruptcy clause - why even mention this?
Casador Del Oso
Casador Del Oso May 18, 2022 9:06AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The roller-coaster ride continues. The path to the bottom is never a straight line.
William Smith
William Smith May 18, 2022 9:04AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
We will be lucky if a recession is all Biden's policies cause as a depression is more likely.
Mitchel Pioneer
Mitchel Pioneer May 18, 2022 8:57AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
The curtain prepares to rise on another day of comedy in the laughingstock of the financial world.  Watch the intraday volatility magically reappear, with losses whisked away at predetermined times of the day.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email