Stocks making the biggest moves midday: Target, Cava, TJX Companies, Intel and more
In this article
Check out the companies making headlines in midday trading.
Target – Target shares added 4% even after the retailer cut its full-year earnings forecast and second-quarter sales fell short of expectations. The company reported earnings of $1.80 per share on revenues of $24.77 billion. Wall Street analysts surveyed by Refinitiv had expected earnings of $1.39 per share on $25.16 billion in revenue. Inventory also improved year over year.
Coinbase — The U.S. cryptocurrency exchange slipped about 1%. The National Futures Association, which has been designated by the Commodity Futures Trading Commission as a self-regulatory organization, approved the company to operate a futures trading service in addition to its already-standing spot crypto trading.
TJX Companies — The discount retailer jumped 4% after beating Wall Street expectations for its fiscal second quarter. TJX reported adjusted earnings of 85 cents per share on $12.76 billion in revenue, while analysts surveyed by Refinitiv expected 77 cents earned and $12.45 billion in revenue.
Coherent — Shares plummeted 35% a day after Coherent delivered weak guidance for its fiscal first quarter. The manufacturer of lasers and optics forecasted earnings of 5 cents to 20 cents per share and revenue of $1 billion to $1.1 billion. Analysts polled by FactSet called for 47 cents per share in earnings and revenue of $1.16 billion.
VinFast Auto — The Vietnamese electric vehicle stock tumbled 23%. The company debuted on the Nasdaq on Tuesday and popped more than 250% that day.
JD.com — U.S. shares of the Chinese e-commerce company slid 2%, even as JD.com beat expectations on the top and bottom lines for its most recent quarter.
Keurig Dr Pepper — The beverage stock
Read more on cnbc.com
