• Retailers took center stage in Wednesday's pre-market period as Lowe's (NYSE: ), TJX Companies (NYSE: TJX), Target (NYSE:TGT)and Children's Place (NASDAQ: PLCE)all announced their quarterly results before the bell.
• Regeneron Pharmaceuticals (NASDAQ: REGN)also saw some interest in pre-market action after The Wall Street Journal reported that sales of antibody treatments have soared as COVID worries mount.
• Lowe's (LOW) exceeded expectations on both its top and bottom lines. The company also gave a full-year revenue projection that was just above the consensus estimate.
• LOW rose almost 5% in Wednesday's pre-market period on the news. On Tuesday, shares had fallen nearly 6% following the release of earnings from rival Home Depot(NYSE: HD).
• TJX Companies (TJX) also reported better-than-expected earnings early Wednesday. The retailer's Q2 EPS topped expectations by nearly 39%, while revenue climbed 81% from last year to reach $12.08B. TJX rose 1% on the news.
• Wednesday's list of retailer earnings also included Target (TGT). The company surpassed projections on both the top and bottom lines. The firm also announced a $15B stock repurchase program. Nonetheless, TGT dipped nearly 2% in pre-market trading.
• Disappointing revenue figures likewise sent Children's Place (PLCE) lower in pre-market action.
• The company's top linerose 12% from last year to reach $413.9M -- nearly $30M below the consensus estimate. Overall earnings beat expectations, but PLCE slipped 6.5% anyway, weighed down by the revenue miss.
• Turning to pandemic-related news, Regeneron Pharmaceuticals (REGN) got a boost in the pre-market amid a WSJ report that sales of the company's antibody therapy jumped ninefold in a month amid a spike in COVID hospitalizations. REGN rose about 2.5% before the bell.