Midday Movers: Target, Lowe’s, Doximity

2022.05.18 19:32

By Sam Boughedda

Investing.com — It’s a down day Wednesday with the Dow and S&P 500 slumping more than 2% and the Nasdaq tumbling over 3%. Here are your midday movers on Wednesday, May 18th.

• Target  (NYSE:TGT) has plummeted 24% after the company’s first-quarter profit halved, missing analyst expectations. The retailer said high costs and inventory issues impacted profits.
• In contrast, TJX Companies (NYSE:TJX) is up just under 9% after it beat profit expectations but missed revenue estimates. The company said its first-quarter pretax profit margin and earnings per share exceeded its plans even though sales were slightly below its expectations.
• Walmart (NYSE:WMT) has continued to slide, currently down 6.3% following Tuesday’s 11% decline after it missed profit expectations.
• Shoe Carnival (NASDAQ:SCVL) has tumbled 15.3% following its revenue miss. The company beat profit expectations, but posted revenue of $317.5 million, missing estimates of $318.2 million by analysts polled by Investing.com.
• Lowe’s Companies (NYSE:LOW) is down 5% midday after it also missed revenue expectations. The home improvement retailer’s comparable-store sales were also below expectations. However, its quarterly profit topped estimates.
• Doximity (NYSE:DOCS) has fallen 11.8% after it missed guidance expectations. The company sees fiscal first-quarter revenue between $88.6 million and $89.6 million, below the $96.78 million expected.

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