Target, Walmart, Carrier Global and others

Check out the companies making headlines before the bell:

Target (TGT) – Target plunged 22.1% in the premarket after the retailer reported adjusted quarterly earnings of $2.19 per share, below the consensus estimate of $3.07. Revenue and comparable store sales beat forecasts, but like rival Walmart yesterday, higher costs swallowed Target’s profits.

Lowe’s (LOW) – Lowe’s fell 2.9% in the pre-market after the retailer’s quarterly comparable store sales fell more than expected and sales were slightly below street forecasts. Lowe’s beat bottom-line estimates by 29 cents with quarterly earnings of $3.51 per share.

Walmart (WMT) – Walmart fell another 1.9% in premarket action, after falling 11.4% yesterday after missing out on gains. The retailer’s stock suffered its worst one-day loss since 1987.

Carrier Global (CARR) – Carrier fell 2.7% in the pre-market after Bank of America Securities cut its stock to “neutral” from “buy.” The company said it is now more bearish in the residential HVAC market after a recent industry conference and said Carrier has the highest relative exposure of its peers to that market.

Penn National Gaming (PENN) – The casino operator’s shares rose 3.2% in the premarket after Jefferies upgraded shares from “buy” from “hold,” noting that the current share price assigns only minimal value to the stock. Penn’s digital operation. Jefferies believes the unit can show good returns over time.

Shoe Carnival (SCVL) – The shoe retailer reported quarterly earnings of 95 cents a share, 9 cents above estimates, with sales also surpassing consensus. Shoe Carnival also raised the outlook for the full year. Shoe Carnival added 1% in premarket trading.

Analog Devices (ADI) – The chipmaker posted adjusted quarterly earnings of $2.40 a share, 29 cents above estimates, and reported better-than-expected earnings. The company said it was able to increase output despite challenges in the supply chain, while demand remained strong. Analog Devices added 1.9% in premarket trading.

Warby Parker (WRBY) – Warby Parker fell 2.1% in premarket trading after its stock was lowered to “neutral” from “buy” at Goldman Sachs. Goldman said it sees a longer path to growth for the eyewear retailer, which reported lower-than-expected quarterly results earlier this week.

Container Store (TCS) – Container Store was up 8.2% in the premarket after better-than-expected earnings and sales for the last quarter. The retailer of storage and organization products also said it aims to achieve annual sales of $2 billion by 2027.

Doximity (DOCS) – Doximity plunged 14.5% in premarket action after its cloud-based platform for medical professionals released a weaker-than-expected revenue forecast for the current quarter. Doximity also reported better-than-expected quarterly earnings and revenue.

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