U.S. stocks opened slightly lower on Wednesday.
The benchmark S&P 500 shed 0.3%. The blue-chip Dow industrial was flat.
The tech-heavy Nasdaq Composite lost 0.8%, slightly stronger-than-expected retail sales were weighed against mixed news in corporate earnings reports.
Tweet on Trending stocks
Trending stocks today:
Advance Auto Parts: shares dropped 14%
Target: shares dropped 14% premarket.
Lowe's:Its shares added 1.8% ahead of the bell.
Carnival: shares fell 13% premarket.
Estée Lauder:shares added 2.4% premarket.
Via @FactSet pic.twitter.com/ZhUvyM1DJH
— The_Journalbiz (@the_journalbiz) November 16, 2022
FactSet trending stocks Wednesday
Target sank 14% to start the day after reporting weaker earnings than Wall Street forecasted and slashing holiday-period forecasts.
Advance Auto Parts: The automotive parts seller’s shares dropped 14% premarket after its earnings came in below analysts’ predictions and it lowered its adjusted per-share earnings forecasts for the year.
Target: The retailer said consumers pulled back on their spending in recent weeks, sapping sales and profits in the latest quarter and putting a cloud over its holiday season. Its shares dropped 14% premarket.
Lowe’s: The home-improvement retailer reported higher sales for the recently ended quarter and raised its full-year earnings outlook. Its shares added 1.8% ahead of the bell.
Lulu’s Fashion Lounge: The online apparel retailer’s shares dropped 13% premarket after it lowered its forward guidance and said that its margins had been compressed.
Carnival: The cruise operator moved to refinance bonds due in 2024 as it commenced a private offering of $1 billion of senior notes due in 2027. Carnival shares fell 13% premarket.
Estée Lauder: The cosmetics company will acquire Tom Ford in a deal valued at roughly $2.8 billion, building on a longstanding licensing agreement. Estée Lauder shares added 2.4% premarket.
Cisco Systems and Nvidia are among the companies reporting earnings Wednesday.