On this episode of Stock Movers:
- Shares of Target Corporation (TGT) dipped in premarket trading after the company trimmed its profit forecast for the year, signaling that its turnaround push is going to take more time as the big-box retailer deals with markdowns and soft demand in key merchandise areas. The company now expects earnings per share, excluding some items, of $7 to $8 this year, cutting the high end of its previous forecast. By that same measure, third-quarter results surpassed the average of analyst estimates, but the key retail metric of comparable sales contracted more than expected.
- Shares of Lowe's Co. (LOW) rallied after the company reported profit that topped expectations on a pickup in online sales and growth in demand from professional contractors. Adjusted earnings per share were $3.06 in the third quarter, the company said in a statement Wednesday, compared with the $3.00 estimate of analysts surveyed by Bloomberg. Lowe’s reported positive same-store sales growth for a second consecutive quarter on strength in its digital channel and in home services. It saw “continued growth” in sales to professional contractors, a market it has sought to expand in recently.
- Shares of Semrush Holdings (SEMR) soared in the early session after news Adobe agreed to buy the marketing software company for $1.9 billion, marking its first takeover announcement since the failed $20 billion acquisition of Figma Inc. in 2022. The all-cash deal will value Semrush at $12 per share and is expected to close in the first half of 2026, Adobe said in a statement Wednesday. Semrush is a platform that allows businesses to analyze and optimize their online marketing, including how their company appears in AI search results. Acquiring the company will help Adobe offer “a comprehensive solution that gives marketers a holistic understanding of how their brands appear across owned channels, LLMs, traditional search and the wider web,” the company said in the statement.
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