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(Updated – May 22, 2024 11:58 AM EDT)
Investing.com — U.S. stock futures were mixed Wednesday, ahead of the release of the keenly-awaited minutes from the last Federal Reserve policy meeting and results from AI bellwether Nvidia (NASDAQ:).
Here are some of the biggest U.S. stock movers today:
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Target (TGT) stock fell 7% after the retailer forecast current-quarter comparable sales and profit largely below expectations after weak discretionary spending dented its first-quarter results.
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Nvidia (NVDA) stock fell 0.5%, steadying ahead of the tech giant’s quarter earnings after rising more than 3% over the past two days.
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Urban Outfitters (NASDAQ:) fell over 4% despite the clothing retailer beating expectations on the top and bottom line in its latest quarter. Concern about growth at its namesake banner weighed on the stock.
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Toll Brothers (NYSE:) (TOL) stock fell 8% despite the housebuilder raising its full-year delivery guidance, as results failed to impress Wall Street given high expectations.
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Lululemon Athletica (NASDAQ:) (LULU) stock dropped 3.9% after the athletic apparel retailer announced the departure of Chief Product Officer Sun Choe.
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Amazon (NASDAQ:) stock rose 0.4% after the tech giant announced that its cloud computing unit AWS will invest around $17 billion in data centres in northern Spain, significantly boosting its expansion plan in the country.
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ViaSat (NASDAQ:) (VSAT) stock fell 17% after the communications company’s quarterly net loss grew to $90 million, up from $62 million in the same period last year.
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PDD Holdings (PDD) stock rose 2% after the company beat first-quarter revenue estimates, powered by strong adoption of its international shopping site, Temu, and as Chinese domestic discount e-commerce platform Pinduoduo (NASDAQ:) attracted more price-conscious customers.
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Analog Devices (NASDAQ:) (ADI) stock rose 8% after the semiconductor forecast third-quarter revenue above expectations, helped by a rise in demand for its automotive and industrial chips after a prolonged slump.
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First Solar (NASDAQ:) rose 13%, hitting a 52-week high, amid a surge in solar stocks. SunPower (NASDAQ:), Canadian Solar (NASDAQ:), SolarEdge Technologies (NASDAQ:), Enphase Energy (NASDAQ:), Array Technologies Inc. (ARRY) and Sunrun (NASDAQ:) were all higher. Invesco Solar ETF (TAN) rose 9%.
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TJX Cos. (NYSE:) rose 6% after reporting first quarter results that topped expectations.
Additional reporting by Louis Juricic
