Target, Lululemon and ViaSat fall premarket; Urban Outfitters, Toll Brothers rise By Investing.com

Investing.com — U.S. stock traded marginally lower Wednesday, ahead of the release of the keenly-awaited minutes from the last Federal Reserve policy meeting.

Here are some of the biggest premarket U.S. stock movers today:

• Target (NYSE:) stock fell 7.6% after the retailer forecast current-quarter comparable sales and profit largely below expectations after weak discretionary spending dented its first-quarter results.

• Nvidia (NASDAQ:) stock fell 0.1%, steadying ahead of the tech giant’s quarter earnings after rising more than 3% over the past two days.

• Urban Outfitters (NASDAQ:) stock rose over 1.7% after the clothing retailer beat expectations on the top and bottom line in its latest quarter.

• Toll Brothers (NYSE:) stock rose 1.1% after the housebuilder raised its full-year delivery guidance, as it reported stronger-than-expected orders with buyers flocking to newly built homes.

• Lululemon Athletica (NASDAQ:) stock dropped 3.9% after the athletic apparel retailer announced the departure of Chief Product Officer Sun Choe.

• Amazon (NASDAQ:) stock fell 0.3% after the tech giant announced that its cloud computing unit AWS will invest around $17 billion in data centres in northern Spain, significantly boosting its expansion plan in the country.

• ViaSat (NASDAQ:) stock fell 11% after the communications company’s quarterly net loss grew to $90 million, up from $62 million in the same period last year.

• PDD Holdings (NASDAQ:) stock rose 7.3% after the company beat first-quarter revenue estimates, powered by strong adoption of its international shopping site, Temu, and as Chinese domestic discount e-commerce platform Pinduoduo (NASDAQ:) attracted more price-conscious customers.

• Analog Devices (NASDAQ:) stock rose 6.4% after the semiconductor forecast third-quarter revenue above expectations, helped by a rise in demand for its automotive and industrial chips after a prolonged slump.