S&P 500 Gains and Losses Today: Retailers on the Move—Target and VF Up, TJX Down

A chart shows the companies in the S&P 500 that had the biggest gains and losses on Nov. 15, 2023.


Key Takeaways

  • The S&P 500 posted gains of 0.2% on Wednesday, Nov. 15, 2023, with positive inflation news helping send U.S. equities higher.
  • Target shares skyrocketed as the retailer blew out earnings estimates, boosted by sales of more "trendy" items.
  • Off-price retailer TJX reduced its holiday quarter profit forecast, and its shares slumped.

More positive news on inflation helped U.S. equities continue their rally, with the S&P 500 adding 0.2% Wednesday.

The Labor Department reported that wholesale prices eased in October just a day after a similar update on consumer prices, adding to optimism that the Federal Reserve won't need to increase interest rates further.

Target (TGT) shares skyrocketed 17.8% after the retailer reported profit that was well above expectations as customers bought higher-priced "trendy" items.

VF Corporation (VFC) shares jumped 14.1% following an upgrade by J.P. Morgan. Analysts also increased their price target on VF stock, pointing to optimism that new CEO Bracken Darrell will implement a successful turnaround plan for the maker of the Vans and North Face brands.

But not all retailers did so well. TJX (TJX) shares dropped 3.3% after the off-price retailer reduced its guidance for the important holiday shopping season on the timing of expenses.

Catalent (CTLT) shares soared 11.3% as it reported the booming market for injectable weight-loss drugs is driving demand for its pre-filled syringes. Meanwhile, Eli Lilly (LLY) shares dipped 3.7% after a report that the drug maker will spend more than $1 billion on a new plant in Germany.

Assurant (AIZ) named a new chief financial officer (CFO) and chief operating officer (COO), and shares of the insurance provider declined 2%.

Amazon (AMZN) shares lost 1.8% following a request by European regulators for more information about the online retailing giant's steps to comply with the European Union's (EU) Digital Services Act (DSA).

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