© Reuters. Investing.com -- Stocks in focus in premarket trading on Wednesday, 21 August:
- Target (NYSE:TGT) stock gained 17% in premarket trade by 8:20 AM ET (12:20 GMT) after the retailer increased its full-year forecast in the wake of strong sales during the second quarter.
- Lowe’s (NYSE:LOW) stock surged 12.2% after it reported earnings per share of $2.15 on revenue of $20.99 billion, which was higher than expected. Comparable sales rose 3.2%, despite a fall in lumber prices and difficult weather, the home-improvement retailer reported.
- Tesla stock tumbled 1.3% after reports that Walmart (NYSE:WMT) is suing it over fires allegedly caused by its solar panels.
- Alibaba (NYSE:BABA) ADRs rose 0.3% despite a Reuters report that it is delaying plans for a $15 billion Hong Kong initial public offering due to growing political unrest in the city.
- Toll Brothers (NYSE:TOL) stock fell 1.3% after it reported a drop in orders during the second-quarter, pointing to weaker demand for new homes.
- Urban Outfitters (NASDAQ:URBN) stock slipped 0.1% after the retailer posted mixed second-quarter results. Revenue and comparable-store sales were below forecasts, while earnings beat estimates, as the company struggles to stem declines at its Urban Outfitters, Anthropologie and Free People stores.
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