Target Posts Comp Sales Beat, Lowe's Slips on Outlook, Moderna Soars on Melanoma Study

Today's biggest winners and losers in the stock market.
On this episode of Stock Movers:
- Shares of Target Corp. (TGT) dipped in the early session. That's despite the retail giant reported comparable sales for the second quarter that beat the average analyst estimate. The company also lifted its full-year guidance after results outpaced estimates in the latest quarter, suggesting the big-box retailer is moving past a lengthy sales slump. The company now expects net sales to increase about 5% in the current fiscal year, which ends in early 2027 — a percentage point higher than the previous guidance.
- Shares of Lowe's Cos. (LOW) slipped in premarket trading after the company cut its outlook for the full year after posting results that missed Wall Street estimates, showing how a stubbornly weak housing market is eroding the home-improvement retailer’s performance. The company now expects comparable sales to be flat this fiscal year, after previously forecasting as much as 2% growth. Comparable sales, which measure results at locations open at least a year, grew 0.2% in the second quarter, missing the average of estimates compiled by Bloomberg.
- Shares of Moderna (MRNA) surged as much as 80% in premarket trading  after the company joined Merck (MRK) to announce their personalized cancer vaccine helped cut the recurrence of melanoma in a large, late-stage trial - an important milestone for the mRNA-based therapy. The trial met its main goal of showing that the vaccine, combined with Merck’s immune drug Keytruda, could lower the rate of melanoma recurrence, compared with the immunotherapy alone. The study also met a key secondary goal of showing the shot could help prevent tumors from spreading to new areas of the body, the companies said in a statement Wednesday.

See omnystudio.com/listener for privacy information.