Investing.com - Stocks in focus in premarket trading on Wednesday:
• Target Corporation (NYSE:TGT) stock surged 9.3% in premarket trade by 8:20 AM ET (13:20 GMT) after the company raised its full-year profit forecast and beat third-quarter forecasts.
• Urban Outfitters Inc (NASDAQ:URBN)stock tanked 14.7% after missing third-quarter profit and sales forecasts, with the brand name posting flat same-store sales growth.
• Lowe’s Companies Inc (NYSE:LOW) stock gained 5% after its earnings came in better than expected and same-store sales rose by 3%. Still, the company failed to beat revenue expectations and said it plans to close 34 stores in Canada.
• Aurora Cannabis Inc (TSX:ACB) stock rose 3.4% after it announced two promotions to its leadership team. Shane Morris was promoted to Chief Product Officer while André Jérôme will become Chief Integration Officer, effective immediately.
• Bristol-Myers Squibb Company (NYSE:BMY) stock fell 0.8% after a late-stage trial testing of its cancer drugs missed a main goal of preventing skin cancer from recurring in a certain group of patients.