Stocks making the biggest moves premarket: LOW, CAVA, TGT
Check out the companies making the biggest moves premarket: Lowe’s — Shares slipped almost 2% after despite the company slightly beating estimates for earnings and revenue in its first-quarter financial report. While the company reaffirmed its full-year guidance, it acknowledged a challenging macro housing market backdrop. Toll Brothers — The homebuilder added 3% after reporting fiscal second-quarter earnings of $2.72 per share, beating the $2.57 analysts polled by LSEG had expected. Toll Brothers’ $2.51 billion revenue also came in above the forecast $2.42 billion. Target — The retailer climbed nearly 2% after it reported a beat on first-quarter numbers and hiked its full-year sales outlook. The company earned $1.71 per share on revenue of $25.44 billion. Analysts expected a profit of $1.46 per share on revenue of $24.64 billion, per LSEG. Cava — Shares popped almost 7% after the Mediterranean fast-casual chain hiked its adjusted EBITDA guidance for the full year to between $181 million to $191 million, versus its prior outlook of $176 million to $184 million. The company also reported first-quarter earnings of 20 cents per share on $438 million in revenue, beating the earnings of 18 cents and revenue of $411 million analysts had expected, per LSEG. Analog Devices — The semiconductor company fell 1.5% despite reporting better-than-expected adjusted earnings of $3.09 per share in its fiscal second quarter. Analysts polled by FactSet estimated earnings of $2.88 per share. Analog Devices also delivered revenue above estimates too. Chipmakers — After a breather following a rapid rally higher, semiconductor stocks rebounded with the iShares Semiconductor ETF (SOXX) up more than 2%. Marvell Technology was up more than 5%, while Intel rose more than 4%. Micron Technology and Qualcomm were both higher by more than 3%. Nvidia — Joining the chip rally was Nvidia, which was up more than 1.5%. The world’s most valuable company is set to report earnings after the bell Wednesday. Red Robin Gourmet Burgers — The burger chain surged more than 9% after posting first-quarter adjusted earnings of 13 cents per share, while analyst polled by FactSet were expecting Red Robin to break even. The company’s $378.3 million revenue also beat the anticipated $362.1 million. Cybersecurity stocks — A slew of names were lower after many had posted sharp rallies over recent trading sessions, rebounding from lows driven by concerns over how artificial intelligence may disrupt the group’s business models. ZScaler fell 2.5%, while Palo Alto Networks and CrowdStrike were both off 1%. TJX Companies — The retailer jumped 4% after it reported better-than-expected results in its first-quarter financial report. TJX delivered $1.19 in earnings per share and $14.32 billion in revenue. Analysts polled by FactSet expected earnings of $1.02 per share and revenue of $14.02 billion. The company, though, gave slightly weaker guidance for the current quarter. — CNBC’s Lisa Kailai Han and Fred Imbert contributed reporting
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