US Stocks Alert: Target Drops Over 8% at One Point as CEO Warns of Ongoing Uncertainty in the Macro Environment

Gelonghui, May 20th｜US retail giant Target (TGT.US) dropped as much as 8% intraday, hitting a low of $117.05. According to reports, Target’s adjusted earnings per share for the first quarter came in at $1.71, higher than the analyst average expectation of $1.46; same-store sales grew by 5.6%, also surpassing analysts’ forecasts of 2.5%. The company’s CEO stated that while the performance guidance has been updated, given the many challenges ahead and persistent uncertainties in the macroeconomic environment, the outlook remains cautious. (Gelonghui)