Earnings Move Retail Sector Stocks (XRT)
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SPDR S&P Retail ETF (NYSE: XRT) should see heavy action today as trader eye retail company stocks.
J. C. Penney Company, Inc. (NYSE: JCP) disappointed investors yesterday when it reported revenue well below consensus. Today, Goldman Sachs lowered estimates and its price target on J. C. Penney from $35 to $31 following the dismal Q1 results.
Another retailer, Target (NYSE: TGT), reported earnings today, and shares are up following better-than-expected first-quarter 2012 numbers and a raised outlook. They also posted their best comp in four years.
Shares of JCP are down 15 percent in early trading on Wednesday.
Shares of TGT are up 2 percent.
XRT is currently up 0.7 percent.
J. C. Penney Company, Inc. (NYSE: JCP) disappointed investors yesterday when it reported revenue well below consensus. Today, Goldman Sachs lowered estimates and its price target on J. C. Penney from $35 to $31 following the dismal Q1 results.
Another retailer, Target (NYSE: TGT), reported earnings today, and shares are up following better-than-expected first-quarter 2012 numbers and a raised outlook. They also posted their best comp in four years.
Shares of JCP are down 15 percent in early trading on Wednesday.
Shares of TGT are up 2 percent.
XRT is currently up 0.7 percent.
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