Midday Movers: Target, Novavax, Kohl's and More
By Liz Moyer
Investing.com -- U.S. stocks seesawed on Tuesday after a warning on margin pressure from Target . Here are the midday movers for June 7:
- Target Corporation (NYSE: TGT ) shares fell 4% in midday trading after the retailer said earlier it would try to slash inventory by offering deep discounts and canceling orders as it faces margin pressure. The disclosure weighed on the retail sector. Home Depot (NYSE: HD ) and Walmart (NYSE: WMT ) shares fell 2% each.
- Novavax Inc (NASDAQ: NVAX ) shares halted after rising more than 3% last night in after-hours trading. The company's Covid vaccine is being considered for emergency use authorization today by a panel of advisors to the Food and Drug Administration.
- Kohl's Corp (NYSE: KSS ) stock was up 8% after the department store operator said it was in exclusive talks with Franchise Group (NASDAQ: FRG ) over a sale that could value Kohl's at $8 billion.
- Peabody Energy Corp (NYSE: BTU ), the coal mining company, shares rose 8% after Jefferies upgraded its rating to buy from hold.
- J.M. Smucker Company (NYSE: SJM ) stock rose 5% after stronger than expected earnings , but the company said a recall of Jif peanut butter would affect results for the year.
- BuzzFeed Inc (NASDAQ: BZFD ) stock rebounded 10% after tumbling 41% on Monday after the end of the lockup period following its initial public offering.
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