On this episode of Stock Movers:
- Target (TGT) shares fell 6.7% in premarket trading after it reaffirmed its sales forecast for the full year, saying it still sees a sales decline of low-single digit percentage compared to the average analyst estimate of 1.71% decline. The big box retailer also named current Chief Operating Officer Michael Fiddelke to succeed Brian Cornell as the company’s next CEO.
- Lowe’s (LOW) entered into a definitive agreement to acquire Foundation Building Materials, a North American distributor of interior building products, serving large residential and commercial professionals in both new construction and repair and remodel applications, for approximately $8.8 billion in cash.
- Estee Lauder (EL) shares fall 7.6% after issuing an annual adjusted EPS forecast that trails expectations. In addition, its organic sales decline for 4Q was slightly worse than expected driven by Skin Care and Makeup segments.
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