Target, Dell, Amazon Rise Premarket; Five Below Falls
Target, Dell, Amazon Surge in Premarket Trading
Target
Target Corporation (TGT.N) shares jumped 1.9% in premarket trading on Tuesday after the retailer reported better-than-expected quarterly earnings, driven by strong demand for groceries and home essentials.
The company's comparable sales grew 2.2%, exceeding analysts' estimates of 1.8%, with digital sales surging by 10%. Target also raised its full-year earnings guidance, citing continued strength in its business.
Dell
Dell Technologies Inc. (DELL.N) shares climbed 2.4% premarket after the company reported solid quarterly results, fueled by robust demand for its servers and PCs.
Dell's revenue increased by 16% year-over-year to $26.1 billion, surpassing market expectations. The company also saw strong growth in its cloud and subscription services businesses.
Amazon
Amazon.com Inc. (AMZN.O) shares edged up 0.6% premarket after the e-commerce giant announced plans to hire 100,000 new employees in the United States.
The company's move is aimed at supporting its growing logistics and fulfillment operations, as well as its plans to expand its brick-and-mortar presence. Amazon has been aggressively investing in its logistics network and recently launched a new air cargo service.
Five Below Dips Premarket
Five Below Inc. (FIVE.O) shares declined 1.2% in premarket trading despite the company reporting a better-than-expected quarterly profit.
The retailer's net income came in at $1.33 per share, beating analysts' estimates of $1.29. However, Five Below's comparable sales growth of 0.3% fell short of expectations, weighing on its share price.
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