Target (TGT) slipped 1.9% premarket, after plunging 25% Wednesday. The retailer reported lower fiscal Q1 earnings due to higher-than-expected costs, followed by a slew of price target cuts by analysts.
Among other stocks in focus, Tesla (TSLA) shed 2.5% premarket, adding to a 6.8% decline Wednesday, while meme stock favorite GameStop (GME) was down 1.1% premarket, after plummeting 8.9% Wednesday. Companion AMC Entertainment Holdings (AMC) inched down 0.4%, after a 1.1% fall Wednesday.
Walmart (WMT) was down 0.6% premarket, adding to a 6.8% fall Wednesday. On Tuesday, the company lowered its fiscal 2023 profit outlook after reporting mixed Q1 results that were pressured by supply chain disruptions, increased costs and persistent inflationary pressures.
TJX Companies (TJX) was flat before the opening bell, after climbing 7.1% Wednesday. The company posted higher fiscal Q1 profit and net sales.
Cisco (CSCO) sank 13% premarket, after falling 4.4% Wednesday. The company reported late Wednesday higher fiscal Q3 non-GAAP earnings, while it cut its 2022 outlook.
Costco Wholesale (COST) was down 0.9% premarket, after plunging 12% Wednesday.
Price: 158.89, Change: -2.72, Percent Change: -1.68
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