Wall Street futures point to a lower open and following that trend in pre-market was discount chain Target Corp (NYSE:TGT) as it posted third quarter earnings.
Shares dropped not far off 3.4% before the bell to US$60.09 despite reporting better-than-expected numbers.
The Minneapolis-based firm posted earnings per share (EPS) of US$0.91, which was US$0.05 better than the Wall Street consensus estimate of US$0.86 and toward the high end of the company’s own guidance.
Target's quarterly comparable sales beat estimates: (Reuters) - Target Corp reported a better-than-expected 0.9 percent rise in comparable sales, as price cuts on several everyday items helped drive traffic at its stores and website. https://t.co/YMLrC6Iv6F #Saudi #Business pic.twitter.com/cSX04LDe0c
— كثبان الذهب (@GoldDunes) 15 November 2017
Revenues rose 1.4% from last year to US$16.67 billion, compared with analysts’ view for US$16.61 billion.
Elsewhere, Sorl Auto Parts Inc (NASDAQ:SORL) shot up over 44.5% to US$8.66 after it reported strong results for its third quarter and raised its full year 2017 outlook.
Third quarter EPS (earnings per share) was 44 cents, up from 17 cents in the same quarter of last year.
Also in the news in New York, Dicks Sporting Goods Inc (NYSE:DKS) was up 2.42% to US$ 26.21 before the bell after broker heavyweight JP Morgan upgraded the shares to 'overweight' from 'neutral'.
Tyson Foods Inc (NYSE:TSN) shares gained 0.18% to US$76.21 in pre-market deals after it added 0.62% to US$76.07.