Stocks - Target, Lowe’s Rise Premarket; Urban Outfitters Falls

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Stocks - Target, Lowe’s Rise Premarket; Urban Outfitters Falls
Credit: © Reuters.

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

Target Corporation (NYSE: TGT ) stock surged 9.3% in premarket trade by 8:20 AM ET (13:20 GMT) after the company raised its full-year profit forecast and beat third-quarter forecasts.

• Urban Outfitters Inc (NASDAQ: URBN )stock tanked 14.7% after missing third-quarter profit and sales forecasts, with the brand name posting flat same-store sales growth.

• Lowe’s Companies Inc (NYSE: LOW ) stock gained 5% after its earnings came in better than expected and same-store sales rose by 3%. Still, the company failed to beat revenue expectations and said it plans to close 34 stores in Canada.

Aurora Cannabis Inc (TSX: ACB ) stock rose 3.4% after it announced two promotions to its leadership team. Shane Morris was promoted to Chief Product Officer while André Jérôme will become Chief Integration Officer, effective immediately.

• Bristol-Myers Squibb Company (NYSE: BMY ) stock fell 0.8% after a late-stage trial testing of its cancer drugs missed a main goal of preventing skin cancer from recurring in a certain group of patients.

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