Here are the stocks making notable moves before the opening bell. Target — Shares jumped nearly 14% in the premarket after the retailer posted second-quarter results that beat expectations. Earnings per share came in at $2.57, while revenue totaled $25.45 billion. Analysts polled by LSEG expected a profit of $2.18 per share on revenue of $25.21 billion. However, Target maintained a cautious outlook for the full year. JD.com — Shares of the Chinese tech company fell more than 8% after Walmart confirmed that it was selling its stake in the online retailer. Macy’s — The department store operator’s stock dropped more than 6% after the firm cut its full-year sales forecast as it is contending with selective shoppers and more promotions. The retailer also posted a mixed quarter, topping Wall Street’s earnings expectations but missing on revenue. Texas Instruments — The tech stock rose nearly 2% after an upgrade to buy from neutral at Citi. The investment firm said that Texas Instruments’ operating margins are set to rebound in the coming quarters. Corning — Shares of the glassmaker gained 1.7% after Mizuho upgraded Corning to outperform from neutral, saying a recent pullback in the stock gives investors an attractive entry point into an optical glass fiber business that has robust growth prospects. Keysight Technologies — Shares of the electronics company jumped 11% after revenue fell less than expected in the firm’s fiscal third quarter. Keysight reported $1.22 billion in sales, while analysts expected $1.19 billion, according to LSEG. The company also said it expected revenue to increase sequentially in the fourth quarter. Toll Brothers — The stock moved about 1% higher following the homebuilder’s third-quarter financial results. Earnings per share came in at $3.60, topping the $3.31 expected from analysts polled by LSEG. Revenue was $2.72 billion, higher than the $2.71 consensus estimate. Toll Brothers also raised its full-year deliveries and pricing guidance. Coty — The beauty stock dipped more than 1% after results for the June quarter missed expectations. Coty said that it lost 3 cents per share on $1.36 billion of revenue during its fiscal fourth quarter. Analysts surveyed by LSEG were estimating a positive 4 cents of earnings per share on $1.38 billion of revenue. — CNBC’s Fred Imbert, Yun Li, Sarah Min and Michelle Fox Theobald contributed.
Original news source Credit: www.cnbc.com
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