Stocks in focus in premarket trading on Wednesday:
• Qualcomm (NASDAQ:QCOM) stock fell 11.3% by 8:15 AM ET (12:15 GMT) after a federal judge ruled that the company had violated antitrust law.
• Lowe’s (NYSE:LOW) stock was down 8% after it was the latest retailer to report a disappointing first quarter. The company also cut its outlook for the year.
• Target (NYSE:TGT) stock gained 7.1% after it reported a rise in comparable-store sales, helped by the development of its stores as hubs for delivery of goods ordered online. Its online sales rose 42%, with same-day delivery services contributing more than half of that growth.
• Nordstrom (NYSE:JWN) stock declined 10.7% after posting disappointing sales figures after the close on Tuesday.
• Amazon.com (NASDAQ:AMZN) stock inched down 0.6% as investors prepare to vote to halt sales of facial recognition technology to police and governments, a move the board of directors is recommending shareholders vote against.
• Avon Products (NYSE:AVP) stock surged 17.2% on expectations that the cosmetic brand will announce its sale to Brazil’s Natura Cosmeticos later in the day.
• Urban Outfitters (NASDAQ:URBN) rose 6.3% after beating forecasts on strong sales at both its Urban Outfitters and Anthropologie chains.
