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Stock Movers Report, your roundup of companies making moves in the stock market, harnessing the power of Bloomberg Data. Let's take a look at some stocks on the move today.
I'm Nathan Hager, joined by Bloomberg's Dan Curtis on this Nvidia earnings Wednesday. We got to wait to talk about that because we've got lots more earnings to look at this morning. Some pretty positive stories here, Dan, starting with Target on Target.
Can we say good morning, good morning? Yeah, on Target above estimates. I can't really say above target because that doesn't mean anything, but yeah. So Target shares are up two percent in the pre market underticker TGT does the company posts the best comparable sales growth in four years and boosts its outlook. Comparable sales came in at five point six percent last quarter, and that was well above estimates. The company lifted its revenue guidance for the year to
four percent. That's from two percent. It's a sign of a turnaround as the retailer has been struggling to revive growth after the pandemic fueld Boom. The new CEO has been focusing on freshening up merchandise in stores and integrating more technology operations. Company is also looking to win backshoppers amid concerns about inflation. Those shares were already up thirty percent year to date, and those results just impressing investors even more about the turnaround.
Can we say the same when it comes to the earnings that we got this morning from Lows after Home Depots results yesterday barn the.
Joke, But those shares are lower. They're down three percent in the pre market as the company posts posted better than expected first quarter adjusted earnings, although comparable sales came in slightly below estimates. The company is also maintaining its full year guidance for sales and earnings, but digging under the hood, Wall Street seemed to have been looking for a raise, as estimate were above the midpoint of what
the company is said to expect. The CEO said that despite the challenging macro backdrop for housing amid higher rates, Low's remains focused on its total home strategy, which is focused on just providing anything you can need, products and services for both professionals and consumers. That said, not enough to turn that stock around. Down three percent in pre market.
All right, well, let's talk about some stocks that are turning around this morning after earnings. Tell us about vf's results. This is the company behind Vans Sneakers, right.
Exactly, and Vans is actually a bright spot ticker VFC. Those shares are up six percent in pre market. It has Vans, it has north Face, it has Timberland, It's behind a lot of apparel and footwear brands, and particularly Vans. America's direct to consumer business return to growth for the first time in four years, So a turnaround in an area that the company had been struggling in the company also noted it expanded margins and operating income came in
above estimates. The CEO committed to remaining on track to achieve its medium term results, said that the company is going to do that likely, and the company also broke even on adjusted earnings per share basis for the fourth quarter. Wall Street was forecasting a loss of two cents per share, So holding on to guidance and better than expected quarter.
And can we say better than expected results for Kava after what we've seen in the fast restaurant industry.
Yeah, the shares are definitely trading like a eight percent as it is, as you said, better than expected, the Mediterranean restaurant chain raising its annual outlook, and that's as diners flocked the restaurants in the first quarter. That led to same store sales rising nearly ten percent, which was well above estimates. It's pushing back against concerns that higher gas prices and cost of living could hurt discretionary spending.
I'm just going to throw this out there, Lava analysts looking towards the pomegranate glazed salmon as a big spur for this quarter, so that's getting some investors excited as well.
This stock mover report from Bloomberg Radio. Check back with us throughout the day for the latest roundup of companies making news on Wall Street and for the latest market moving headlines. Listen to Bloomberg Radio Live, catch us on YouTube, Bloomberg dot com, and on Applecarplay and Android Auto with the Bloomberg Business app.