Singapore Markets open in 3 hrs 46 mins

Stocks: Target, Lowe's Soar in Premarket on Strong 2Q Numbers

Investing.com -- Stocks in focus in premarket trading on Wednesday, 21 August:

Target (NYSE:TGT) stock gained 17% in premarket trade by 8:20 AM ET (12:20 GMT) after the retailer increased its full-year forecast in the wake of strong sales during the second quarter.

Lowe’s (NYSE:LOW) stock surged 12.2% after it reported earnings per share of $2.15 on revenue of $20.99 billion, which was higher than expected. Comparable sales rose 3.2%, despite a fall in lumber prices and difficult weather, the home-improvement retailer reported.

Tesla (NASDAQ:TSLA) stock tumbled 1.3% after reports that Walmart (NYSE:WMT) is suing it over fires allegedly caused by its solar panels.

Alibaba (NYSE:BABA) ADRs rose 0.3% despite a Reuters report that it is delaying plans for a $15 billion Hong Kong initial public offering due to growing political unrest in the city.

Toll Brothers (NYSE:TOL) stock fell 1.3% after it reported a drop in orders during the second-quarter, pointing to weaker demand for new homes.

Urban Outfitters (NASDAQ:URBN) stock slipped 0.1% after the retailer posted mixed second-quarter results. Revenue and comparable-store sales were below forecasts, while earnings beat estimates, as the company struggles to stem declines at its Urban Outfitters, Anthropologie and Free People stores.

Related Articles

Danish regulator prepares report for police on Danske overcharging

Exclusive: Checks seen on some Airbus A380s after 2017 engine explosion

Target, Lowe's drive Wall Street higher