Lowe's shares fell nearly 2% after the company reported first-quarter earnings and revenue that slightly exceeded expectations, but acknowledged a tough housing market. In contrast, Toll Brothers' stock rose 3% following a strong fiscal second-quarter performance, with earnings of $2.72 per share and revenue of $2.51 billion, both surpassing analyst forecasts.
Target's shares climbed almost 2% after it reported earnings of $1.71 per share on $25.44 billion in revenue, exceeding expectations and raising its full-year sales outlook. Cava's stock surged nearly 7% after it increased its adjusted EBITDA guidance for the year and reported first-quarter earnings of 20 cents per share on $438 million in revenue, both beating analyst estimates.
Analog Devices saw a 1.5% decline despite reporting adjusted earnings of $3.09 per share, above the expected $2.88. Semiconductor stocks rebounded, with the iShares Semiconductor ETF rising over 2%, and Nvidia gained more than 1.5% ahead of its earnings report.
Red Robin Gourmet Burgers' shares jumped over 9% after reporting adjusted earnings of 13 cents per share and revenue that exceeded expectations. Conversely, several cybersecurity stocks, including ZScaler and Palo Alto Networks, experienced declines after recent rallies.
TJX Companies' stock increased by 4% following better-than-expected first-quarter results, although it provided slightly weaker guidance for the upcoming quarter