Investors Eye Earnings Reports as Retail Giants Post Mixed Results

NEW YORK, NY — Major retail companies reported earnings today, giving insights into consumer spending ahead of Black Friday. The earnings releases come after a series of reports last week.

Among the retail giants, Lowe's Companies saw its shares rise following a strong third-quarter report with earnings per share of $3.06, an increase from $2.89 last year. The company also raised its annual sales outlook to $86 billion.

Conversely, Target Corporation‘s shares fell after it reported a larger-than-expected drop in sales, down 1.5% to $25.27 billion. Target’s Chief Operating Officer Michael Fiddelke commented that the results were in line with expectations amidst various challenges.

Walmart also reported better-than-expected earnings, bolstered by its e-commerce growth. CFO John David Rainey indicated that customers from various economic backgrounds were returning as SNAP benefits resumed.

Meanwhile, the Department of Energy is supporting a $1 billion loan for Constellation Energy to restart operations at the Three Mile Island nuclear power plant in Pennsylvania. The backing encourages the company to provide power for Microsoft‘s nearby data centers.

In technology news, Nvidia is set to announce its earnings report soon, maintaining investor interest as the AI boom continues.