Stocks that make the biggest moves at noon: Target, Lowe’s, Tesla, and more
A woman leaves the Target store in New York on March 2, 2021.
Emaz | Corbis News | Getty Images
Check out the companies that are making headlines in mid-day trading.
Target – The retailer’s shares rose 6% after Target’s first quarter results beat analysts’ expectations for sales and earnings. The company made an adjusted $ 3.69 per share on revenue of $ 24.2 billion. According to Refinitiv estimates, The Street expected the company to make $ 2.25 per share on sales of $ 21.81 billion. The comparable sales of Target increased by 22.9% compared to the previous year.
Take-Two Interactive – Take-Two stock rose roughly 7% on the video game company’s latest quarterly results. Take-Two earned an adjusted 94 cents per share, compared to the 67 cents analysts had expected, according to Refinitiv estimates. The company also beat sales estimates.
Lowe’s – The hardware store retailer’s shares fell roughly 1% despite beating the quarterly earnings statement. Lowe’s reported earnings of $ 3.21 per share on sales of $ 24.42 billion. Wall Street expects earnings of $ 2.62 per share on sales of $ 23.86 billion, according to Refinitiv. Sales in the same store rose by 24.4% and were thus above the forecast 20.3%.
TJX Company – TJX stock was down more than 5% despite better-than-expected quarterly results. TJX earned 44 cents per share, beating estimates of 31 cents per share, according to Refinitiv. The company had sales of $ 10.09 billion, up on the Wall Street forecast of $ 8.62 billion.
JD.com – The Chinese e-commerce company’s shares rose 0.8% after posting better-than-expected earnings and sales in the first quarter. JD’s active customer accounts increased 29% year over year in the quarter thanks to an expanded product line.
Tesla – Shares in the electric vehicle maker, which holds a large amount of Bitcoin, fell about 2.5% during the cryptocurrency sell-off on Wednesday. Tesla CEO Elon Musk stated in a tweet on Wednesday morning that Tesla will not sell its Bitcoin while the cryptocurrency is plummeting.
Microstrategy – Microstrategy stocks fell 6.6% as Bitcoin fell. The business analytics company has a large amount of Bitcoin in its corporate coffers.
Coinbase – The shares of the largest U.S. crypto exchange fell about 6%. The exchange’s website had a brief outage amid the crypto sell-off before resuming service a few hours later, Coinbase said. The company debuted around the time the price of Bitcoin peaked at $ 65,000 five weeks ago.
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– CNBC’s Maggie Fitzgerald, Pippa Stevens and Yun Li contributed to the coverage