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