Target’s Mixed Quarter, Lowe’s Beats Estimates, and 3 More Hot Stocks

Target Corp. (NYSE:TGT): Though earnings per share of $1.19 beat expectations by 23 cents, revenue of $17.12 billion fell off the mark by $0.14 billion. Comparable store sales rose 1.2 percent during the quarter as a higher average transaction amount offset a 1.4 percent drop in the overall number of transactions. However, it did fall well below analyst expectations of 2-3 percent. The company opened 44 new stores in Canada for 68 total locations in the country.

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Lowe’s Cos. Inc. (NYSE:LOW): Shares are up over 5 percent as Lowe’s reported comparable store sales that rose 9.6 percent during the quarter, which reflected strong home improvement demand and improved store execution. EPS of 88 cents beat by 9 cents and revenue of $15.71 billion beat by $0.65 billion.

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American International Group (NYSE:AIG): ValueWalk says that AIG remains the ”king of the hedge fund castle,” as reflected by a recent Goldman report that indicates 69 funds have AIG stock in their top 10 holdings as of June 30, ahead of Google (NASDAQ:GOOG), in second place with 65, and Apple (NASDAQ:AAPL), in third, with 50.

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Lloyds Banking Group PLC (NYSE:LYG): Lloyds has agreed to sell its German life insurer unit Heidelberger Leben for 250 million pounds to a joint venture made up of private equity group Cinven and Hannover Re. The bank expects the sale to lead to a loss on disposal of around 330 million pounds, but when combined with other divestments, the transaction should bolster the group’s common equity tier 1 capital by around 400 million pounds.

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OfficeDepot (NYSE:ODP): OfficeDepot shares are trading down over 5 percent following the release of Staples’s (NASDAQ:SPLS) second-quarter report card, which showed misses on both earnings and revenue. Separately, OfficeDepot has agreed to support the nomination of three of the Starboard Value’s candidates for the company’s board just hours before its annual meeting and thereby averting a significant proxy fight.

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