Midday movers: Target, Toll Brothers, Keysight rise; Macy's, JD.com, La-Z-Boy fall
Investing.com -- U.S. stock futures traded higher Wednesday after data showed a downward revision in US payrolls data, ahead of the release of minutes from the last Federal Reserve meeting.
Here are some of the biggest U.S. stock movers today:
Target Corporation (NYSE: TGT) stock soared 12% after the big box retailer raised its annual profit forecast and beat expectations for second-quarter comparable sales, with customers drawn in by low priced groceries and essentials.
- Macy’s (NYSE: M) stock fell 12% after the department store chain missed market expectations for quarterly revenue as lingering weakness in U.S. consumer spending hurt demand for big-ticket, non-essential goods.
JD (NASDAQ: JD) stock fell 6% after Bloomberg reported that Walmart (NYSE: WMT), up 0.8%, had decided to sell its stake in the Chinese e-commerce firm in order to focus on its own operations in the second-largest economy in the world.
Toll Brothers (NYSE: TOL) stock rose 6% after the homebuilding company surpassed earnings expectations in the fiscal third quarter, and lifted its full-year deliveries guidance.
Keysight Technologies (NYSE: KEYS) stock soared over 12% after the test equipment manufacturing company beat third-quarter revenue and profit estimates, while posting solid fourth-quarter guidance.
Tesla (NASDAQ: TSLA) stock fell 0.1% after the National Highway Traffic Safety Administration said the EV manufacturer is recalling 9,136 Model X sports utility vehicles over a trim on the roof that could separate, increasing the risk of a crash.
3D Systems (NYSE: DDD) stock fell 2.4% after the 3D printing company reported first-quarter results that missed analyst expectations.
La-Z-Boy (NYSE: LZB) stock dropped 3% as the furniture manufacturer offered up weaker-than-expected guidance, largely offsetting strong quarterly earnings.
Texas Instruments (NASDAQ: TXN) stock rose 3% after Citi upgraded its stance on the chipmaker to ‘buy’ from ‘neutral’, in the wake of activist investor Elliott Investment Management taking a stake.
Analog Devices (NASDAQ: ADI) rose 3% after publishing strong third quarter results and guidance. Analysts said the report was a sign of recovery.
TJX Cos. (NYSE: TJX) rose 6% after beating quarterly estimates and raising its full year EPS guidance. The company said overall comp sales growth was entirely driven by customer transactions, which increased at every division.
Additional reporting by Louis Juricic