Stocks making the largest pre-market moves: Target, Walmart, Carrier Global and others

Check out the companies making headlines before the bell:

Target (TGT) – Target fell 22.1% in premarket after the retailer reported adjusted quarterly earnings of $2.19 per share, below the consensus estimate of $3.07. Same-store revenue and sales beat expectations, but like rival Walmart yesterday, rising costs weighed on Target’s bottom line.

Lowe’s (LOW) – Lowe’s fell 2.9% in the pre-market after the home improvement retailer’s quarterly same-store sales fell more than expected and revenue came in slightly below Street’s forecast. Lowe’s beat earnings estimates by 29 cents with quarterly earnings of $3.51 per share.

Walmart (WMT) – Walmart fell another 1.9% in the premarket stock after falling 11.4% yesterday following a loss in earnings. The retailer’s stock suffered its worst one-day loss since 1987.

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

Penn National Gaming (PENN) – Shares of the casino operator rose 3.2% in the pre-market after Jefferies upgraded the stock to “buy” from “hold”, noting that the current price of the action assigns only minimal value to Penn’s digital operation. Jefferies believes the unit could show good returns over time.

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

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

Warby Parker (WRBY) – Warby Parker slid 2.1% in premarket trading after the stock was downgraded from “neutral” to “buy” at Goldman Sachs. Goldman said it foresees a longer growth path for the eyewear retailer, which reported quarterly earnings below expectations earlier this week.

Container Store (TCS) – Container Store jumped 8.2% pre-market after posting better-than-expected earnings and revenue for its latest quarter. The storage and organization products retailer also said it aims to hit $2 billion in annual sales by 2027.

Doximity (DOCS) – Doximity plunged 14.5% in premarket stock after the cloud-based platform for healthcare 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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