Break'n News - Stocks making the biggest moves midday: Target, Lowe’s, Tesla and more

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Check out the companies making headlines in midday trading.

Target Shares of the retailer advanced 5% after Target’s first-quarter results beat analysts’ expectations on the top and bottom line. The company earned an adjusted $3.69 per share on $24.2 billion in revenue. The Street was expecting the company to earn $2.25 per share on $21.81 billion in revenue, according to estimates from Refinitiv. Target’s comparable sales grew 22.9% year over year.

Take-Two Interactive Take-Two shares jumped about 5% following the video game company’s latest quarterly results. Take-Two earned an adjusted 94 cents per share, compared to the 67 cents analysts had been expecting, according to estimates compiled by Refinitiv. The company also topped revenue estimates.

Lowe’s Shares of the home improvement retailer fell about 1.8% despite beating on the top and bottom lines of its quarterly earnings. Lowe’s reported earnings of $3.21 per share on revenue of $24.42 billion. Wall Street expected earnings of $2.62 per share on revenue of $23.86 billion, according to Refinitiv. Same-store sales rose 24.4%, higher than the forecast 20.3%.

TJX Companies TJX shares dipped more than 2% despite reporting better-than-expected quarterly results. TJX earned 44 cents per share, topping estimates of 31 cents per share, according to Refinitiv. The company made $10.09 billion in revenue, higher than the $8.62 billion forecast on Wall Street.

JD.com The Chinese e-commerce company’s shares rose roughly 1% after the firm reported better-than-expected earnings and revenue for the first quarter. JD’s active customer accounts grew by 29% in the quarter compared to a year earlier, thanks to an expanded product lineup.

Tesla Shares of the electric vehicle company, which holds a large amount of bitcoin, dipped about 3.5% amid Wednesday’s cryptocurrency selloff. Tesla CEO Elon Musk in a tweet later Wednesday morning implied Tesla is not selling its bitcoin amid the cryptocurrency’s drop.

Microstrategy Microstrategy shares tanked nearly 9% as bitcoin fell. The business analytics company holds a large amount of bitcoin in its corporate treasury.

Coinbase Shares of the largest U.S. crypto exchange dropped about 6%. The exchange’s website experienced a brief outage amid the crypto selloff before resuming service a few hours later, Coinbase said. The company debuted around the time Bitcoin’s price peaked at $65,000 five weeks ago.

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— CNBC’s Maggie Fitzgerald, Pippa Stevens and Yun Li contributed reporting





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