Stock Groups

Target, Kroger, Foot Locker and more

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One shopping cart can be seen in Target’s Brooklyn store, New York (USA), November 14, 2017.

Brendan McDermid | Reuters

Take a look at the top midday traders.

Target – Shares of the retailer jumped 11% after the company reported 9% sales growth in the fiscal fourth quarter, despite supply chain pressures, and said it’s poised to keep that momentum going. Target issued guidance on revenue growth with growth of the low- to mid-single digits. Target projects that adjusted earnings per share will rise in high single figures in the coming year.

Kroger — Shares of Kroger rose more than 2% after Telsey upgraded the grocery store chainBefore its earnings report. Joseph Feldman from Telsey said that he believes there is more visibility into the multi-year Kroger omni-channel growth runway.

Foot Locker – The athletic retailer saw shares fall 7.5% after Goldman Sachs downgraded the stock to neutral from buy, saying it sees too much near-term pressure on the stock. Foot Locker had announced it was downgrading the stock. will sell fewer Nike products.

AutoZone – The retail stock dipped 2% despite AutoZone beating expectations for earnings and revenues for its fiscal second quarter. Same-store sales rose 13.8% over the previous year.

Workday — Shares of Workday popped 7% in midday trading after beating on the top and bottom lines of its quarterly earnings results. In addition, the company raised its guidance to expect fiscal 2023 subscription revenues to range from $5.53 billion up to $5.55 trillion. This is a 22% increase year-over year.

Lucid Group — Shares of the electric carmaker plunged more than 15% in midday trading after reporting a wider-than-expected loss of 64 cents per share, while analysts expected a loss of 25 cents per share, according to Refinitiv. The revenue came in at $26.4million, which was below the predicted $36.7million.

Zoom Video — Zoom shares fell nearly 4% midday after the video conferencing platform issued a weaker-than-expected first quarter and full-year guidance. For the fourth quarter, earnings and revenue were higher than expected.

Novavax — Shares of Novavax rose 2.7% midday. Novavax reported that its fourth-quarter top and bottom lines were not met, however it said that the company expects to generate revenue of between $4 billion and $5 million in 2022. Novavax also works on an omicron specific vaccine.

J.M. Smucker — J.M. Smucker shares dropped 6.3% in spite of the better-than expected earnings report. Smucker lowered its fiscal-year growth guidance, and lowered the high end fiscal-year earnings guidance.

Hormel Foods — Shares of Hormel rose 4% after the company beat revenue estimates in its latest quarterly report. Wall Street forecasts were met by Hormel’s earnings.

Rivian — Shares of Rivian sunk 8.5% after Wells Fargo reiterated its equal-weight rating on the stock. According to the firm, there are too many “near term headwinds.”

Chevron — Chevron shares rose 3.5% after Bank of America reiterated its buy rating on the stock. This call was made after Chevron claimed it was very close to buying Renewable Energy Group. 

Wells Fargo, Bank of America — Financial stocks were among the biggest losers Tuesday. Bank of America fell more than 4% while Wells Fargo lost about 5%. While falling Treasury yields can potentially squeeze bank profits, some traders worry about credit market disruption due to the sanctions on Russia and conflicts in Eastern Europe.

Occidental Petroleum, APA Corp — Energy stocks got a lift as oil prices spikedU.S. crude reached its highest mark since June 2014 APA Corp climbed 4.6%, while Occidental Petroleum gained 5.8%.

Lockheed Martin, Northrop Grumman — Defense stocks gained as investors monitored increasing tension in the Russia-Ukraine conflict. Lockheed Martin rose by 4.3%, while Northrop Grumman gained 2%.

— CNBC’s Maggie Fitzgerald, Jesse Pound and Samantha Subin contributed reporting

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