Stocks Making the Greatest Movements Premarket 05/17

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Last Updated on May 17, 2023 by Bitfinsider

TJX Companies — Shares slid around 1% before the market opened after the retailer disclosed a revenue miss. First-quarter revenue was $11.78 billion, less than the $11.82 billion projected by Refinitiv analysts surveyed. TJX also forecasted second-quarter profits per share of 72 cents to 75 cents, compared to the 79 cents expected by analysts. Even though first-quarter earnings per share above expectations, full-year forecasts fell short.

Target — The stock of the big-box retailer fell less than 1% in tumultuous trading after the business exceeded earnings projections in the fiscal first quarter, despite sales barely increasing year over year. Target also stated that it anticipates sales to remain slow in the current quarter, with comparable sales falling by a single digit. The retailer maintained its previous full-year forecast.

Zions Bancorporation — The Salt Lake City-based bank gained 4.7% in premarket trade as regional banks rose, headed by Western Alliance. The SPDR S&P Regional Banking ETF gained 1.7%.

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