A woman leaves Target store on March 02, 2021 in New York.
Emaz | Corbis News | Getty Images
Check out the companies making headlines in midday trading.
Target — Shares of the retailer advanced 5% after Target’s first-quarter results beat analysts’ expectations on the top and bottom line. The company earned an adjusted $3.69 per share on $24.2 billion in revenue. The Street was expecting the company to earn $2.25 per share on $21.81 billion in revenue, according to estimates from Refinitiv. Target’s comparable sales grew 22.9% year over year.
Take-Two Interactive — Take-Two shares jumped about 5% following the video game company’s latest quarterly results. Take-Two earned an adjusted 94 cents per share, compared to the 67 cents analysts had been expecting, according to estimates compiled by Refinitiv. The company also topped revenue estimates.
Lowe’s — Shares of the home improvement retailer fell about 1.8% despite beating on the top and bottom lines of its quarterly earnings. Lowe’s reported earnings of $3.21 per share on revenue of $24.42 billion. Wall Street expected earnings of $2.62 per share on revenue of $23.86 billion, according to Refinitiv. Same-store sales rose 24.4%, higher than the forecast 20.3%.
TJX Companies — TJX shares dipped more than 2% despite reporting better-than-expected quarterly results. TJX earned 44 cents per share, topping estimates of 31 cents per share, according to Refinitiv. The company made $10.09 billion in revenue, higher than the $8.62 billion forecast on Wall Street.
JD.com — The Chinese e-commerce company’s shares rose roughly 1% after the firm reported better-than-expected earnings and revenue for the first quarter. JD’s active customer accounts grew by 29% in the quarter compared to a year earlier, thanks to an expanded product lineup.
Tesla — Shares of the electric vehicle company, which holds a large amount of bitcoin, dipped about 3.5% amid Wednesday’s cryptocurrency selloff. Tesla CEO Elon Musk in a tweet later Wednesday morning implied Tesla is not selling its bitcoin amid the cryptocurrency’s drop.
Microstrategy — Microstrategy shares tanked nearly 9% as bitcoin fell. The business analytics company holds a large amount of bitcoin in its corporate treasury.
Coinbase — Shares of the largest U.S. crypto exchange dropped about 6%. The exchange’s website experienced a brief outage amid the crypto selloff before resuming service a few hours later, Coinbase said. The company debuted around the time Bitcoin’s price peaked at $65,000 five weeks ago.
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— CNBC’s Maggie Fitzgerald, Pippa Stevens and Yun Li contributed reporting