Stocks making the biggest moves premarket: Target, Walmart, Carrier Global and others

cnbc.com:

In this article

Check out the companies making headlines before the bell:

Target (TGT) – Target plummeted 22.1% in the premarket after the retailer reported an adjusted quarterly profit of $2.19 per share, below the $3.07 consensus estimate. Revenue and comparable-store sales beat forecasts, but like rival Walmart yesterday, higher costs ate into Target's bottom line.

Lowe's (LOW) – Lowe's fell 2.9% in the premarket after the home improvement retailer's quarterly comparable-store sales fell more than expected and revenue come in slightly below Street forecasts. Lowe's beat bottom-line estimates by 29 cents with quarterly earnings of $3.51 per share.

Walmart (WMT) – Walmart fell another 1.9% in premarket action after tumbling 11.4% yesterday following its earnings miss. The retailer's stock suffered its worst one-day loss since 1987.

Carrier Global (CARR) – Carrier fell 2.7% in the premarket after Bank of America Securities downgraded the stock to «neutral» from «buy.» The firm said it is now more bearish on the residential HVAC market following a recent industry conference and said Carrier has the highest relative exposure of its peers to that market.

Penn National Gaming (PENN) – The casino operator's shares rallied 3.2% in the premarket after Jefferies upgraded the stock to «buy» from «hold,» noting the current stock price only assigns minimal value to Penn's digital operation. Jefferies feels the unit could demonstrate good returns over time.

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

Analog Devices (ADI) – The