Target Reports Earnings Beat, Joins AST SpaceMobile, Dada Nexus And Other Big Stocks Moving Higher On Wednesday

U.S. stocks traded higher, with the Dow Jones gaining more than 100 points on Wednesday.

Shares of Target Corporation TGT jumped during Wednesday’s session after the company reported better-than-expected third-quarter financial results.

Target reported a third-quarter FY23 sales decline of 4.22% year-on-year to $25.398 billion, beating the analyst consensus estimate of $25.31 billion. Adjusted EPS of $2.10 beat the analyst consensus estimate of $1.48.

The company will offer more than 10,000 items for the holidays, including exclusives and many priced under $25.

Shares of Target rose 18.2% to $130.89 on Wednesday.

Here are some other big stocks recording gains in today’s session.

AST SpaceMobile, Inc. ASTS shares surged 28% to $4.82 following third-quarter results.

Arcturus Therapeutics Holdings Inc. ARCT shares jumped 25.2% to $24.34 after the company reported a narrower third-quarter loss.

CorMedix Inc. CRMD surged 23% to $3.85 as the company posted a narrower-than-expected third-quarter loss. 

Gyre Therapeutics, Inc. GYRE rose 20.5% to $11.45.

Dada Nexus Limited DADA gained 20% to $4.49 following third-quarter results.

Icosavax, Inc. ICVX climbed 19.1% to $9.63 following strong quarterly earnings.

iHeartMedia, Inc. IHRT surged 17.6% to $2.47. iHeartMedia and Global signed a multi-year podcast partnership deal in the UK, Ireland and the U.S.

V.F. Corporation VFC gained 14.3% to $17.80. JPMorgan upgraded VF from Underweight to Neutral and raised the price target from $15 to $19.

Wolfspeed, Inc. WOLF jumped 14.2% to $37.26.

Sigma Lithium Corporation SGML rose 13% to $27.94 following third-quarter results.

Chegg, Inc. CHGG climbed 13.5% to $10.09. The company announced a $150 million buyback.

Catalent, Inc. CTLT gained 12% to $39.80 following quarterly results.

Vipshop Holdings Limited VIPS gained 10.8% to $16.40.

Tencent Music Entertainment Group TME jumped 10.7% to $8.48. Benchmark reiterated Tencent Music Entertainment with a Buy and maintained a $9 price target.

Kohl's Corporation KSS surged 9.4% to $24.82.

Macy's, Inc. M surged 8.2% to $12.69.

Sirius XM Holdings Inc. SIRI gained 8% to $5.28 after Berkshire Hathaway disclosed it added a stake of 9.68 million shares of the stock in the third quarter.

Expedia Group, Inc. EXPE surged 7.3% to $131.55.

Crocs, Inc. CROX gained 6.8% to $90.98.

Tripadvisor, Inc. TRIP rose 6.6% to $18.99. Bernstein upgraded TripAdvisor from Market Perform to Outperform.

American Eagle Outfitters, Inc. AEO gained 5.7% to $19.71. BofA Securities upgraded American Eagle from Underperform to Neutral and raised the price target from $12.5 to $19.

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