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Target shareholder meeting; Rambus boosts sales outlook; Ulta shares surge

Hot Stock Minute

Here is a look at some of the stocks the Yahoo Finance team will be watching for you today.

Target (TGT) hosts its shareholder meeting in Dallas today. The company is facing many challenges. After being hit with a massive data breach last year, it fired its CEO and has been struggling to get profits back on track. Yesterday, Target said it hired a new chief information security officer to help beef up its data security to better protect its customers.

Rambus (RMBS) shares rose in early trading after the chip-maker raised its sales outlook for the second quarter to between $75 million and $77 million. The company also signed a licensing agreement with Qualcomm (QCOM) that allows Rambus to put its technology in Qulacomm's chip sets.

Ulta Salon, Cosmetics and Fragrance (ULTA) shares jumped before the bell. The beauty-products retailer raised its outlook for the second quarter after it reported first-quarter profits rose 19% to $50 million or $0.77 a share, topping analysts' estimates. Revenue also beat expectations on strong sales growth.  

Shares of drone maker AeroVironment (AVAV) rose in the pre-market on news it will make drones for British oil company BP (BP) who received the first U.S. commercial drone license for use over land. The first flight already took place on Sunday. The drones will, among other things, make 3D maps of the roads, pipelines and well pads over Prudhoe Bay oil field in Alaska. Commercial drone flights are currently banned in the U.S., but the Federal Aviation Administration is set to release regulations on the issue next year.