Here is a look at some of the stocks the Yahoo Finance team will be watching for you today.
Retailers are dominating the headlines this morning. Target (TGT) shares were lower in the premarket after the big-box retailer lowered its outlook for the year as it struggles to win back consumers after last year's massive data breach. Target also reported earnings that missed estimates by a penny, but revenue beat by about $30 million.
Staples (SPLS) shares were higher in early trading. The office supplies retailer posted second quarter earnings of $0.12 a share beating analysts' estimates by a penny. Revenue also came in slightly better than expected, but was down nearly 2% compared to a year earlier. The company warned that sales could fall in the current quarter as it continues to struggle with competition from big box and online retailers. Staples is also going ahead with plans to shut-down underperforming stores. It said it will close about 140 stores in North America this year.
Lowe’s (LOW) shares fell in early trading. The home-improvement retailer lowered its sales outlook for the full year. The company now expects sales to grow 4.5%, down from its earlier projection of 5%. However, Lowe's reported earnings and revenue that topped estimates. Same-store sales rose 4.4%. Just yesterday, rival Home Depot (HD) posted better-than-expected results and raised its earnings outlook for the year.
Hertz (HTZ) shares headed in reverse before the bell. The rental car company said it now expects its earnings for the year to be well below the low end of its previously announced guidance. Hertz citing operational challenges, including record-level vehicle recall activity and costs related to restating its financial statements for the last three years.
PetSmart (PETM) shares rose in the pre-market. The pet-supplies retailer seems to be caving in to pressure from big shareholders and said it was exploring strategic alternatives including a possible sale of the company. PetSmart also announced a cost-reduction program that will target all areas of the business, including cost of goods sold, logistics, sourcing, store operating costs and overhead. This comes after it reported second-quarter earnings that beat analysts' estimates.
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