Target, JD, Goodyear rise premarket; TJX, Advance Auto Parts fall

investing.com:

Investing.com — U.S. futures traded higher Wednesday, with the positive tone generated by the previous session’s cooler than expected inflation data continuing.

Here are some of the biggest premarket U.S. stock movers today:

Target (NYSE:TGT) stock soared over 13% after the big-box retailer easily beat quarterly earnings estimates, as purchases in high-frequency categories helped prop up weaker customer spending.

Advance Auto Parts (NYSE:AAP) stock fell 1.5% after the car parts provider posted mixed third quarter results, while lowering its FY guidance, announcing a new CFO, and initiating separate sale processes for its Worldpac and Canadian businesses.

TJX (NYSE:TJX) stock fell 1.6% after the off-price retailer disappointed with ts holiday quarter guidance even as it beat third-quarter expectations on both the top and bottom lines.

Goodyear (NASDAQ:GT) stock rose 6.2% after the tire manufacturer announced a transformation plan that aims to raise more than $2 billion in proceeds.

JD (NASDAQ:JD) stock rose 4.9% after the Chinese e-commerce giant posted a surge in quarterly profit as supply chain challenges eased.

XPeng (NYSE:XPEV) stock fell 0.9% after the Chinese electric vehicle manufacturer’s operating loss widened on costs tied to its increased production plans.

VF Corp (NYSE:VFC) stock rose 3.7% after JPMorgan upgraded its stance on the apparel company to ‘neutral’ from ‘underweight’, citing an expected turnaround in profitability within the next 12 to 18 months.

Wix (NASDAQ:WIX) stock rose 2.7% after Barclays upgraded the web developer to ‘overweight’ from ‘equal weight’, saying its partner program is scaling effectively in a market with few strong competitors.