Wall Street mixed finish as Target slides on weak forecast
U.S. stocks ended modestly mixed. Target tumbled 21.4 percent after a weak quarterly report and tame holiday profit forecast, while Walmart posted strong results. The S&P 500 was flat, Dow gained 139 points, and Nasdaq dipped slightly as investors watch consumer demand and rates. Wells Fargo raised Treasury yield outlook on Trump policy hopes.
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Thanksgiving price wars heat up as grocers roll out meal deals
New York retailers including Walmart Target and Aldi offer Thanksgiving bundles to lure shoppers amid high prices. Walmart debuted a 29 item feast under 55 dollars serving eight, Target has a four person bundle for 20 dollars, and Aldi prices a 47 dollar Butterball turkey set. Meijer joins with a 37 dollar family meal and 49 cents per pound turkey, while Circana notes this meals-driven demand boosts seasonal sales and store-brand dynamics amid cautious discounting.
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Target Posts Sluggish Q3 Results as Walmart Advances
Target reports a weak fiscal third quarter with lower profits and sales as inflation-weary shoppers cut back on apparel and nonessential items. Costs from the October U.S. dockworkers strike weighed on results while Walmart posted stronger quarterly gains and brightened holiday outlooks. Target warns on year-end guidance as shoppers seek value and promos amid cautious spending.
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Nvidia beats estimates with strong AI chip demand surge
Nvidia reported third quarter revenue of 35.08 billion dollars, up 94 percent from a year earlier, and earnings of 19.31 billion. Adjusted 81 cents a share, above the 75 cent forecast on 33.17 billion in revenue. The stock edged lower after hours.
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