Stocks making the biggest moves midday: Target, Lowe’s, TJX and more

Shoppers walk in front of a Target store at the Lycoming Crossing shopping plaza in Muncy, Pennsylvania.

The companies are making news in midday trading.

Target reported disappointing quarterly results due to high fuel costs and inventory troubles. Target posted an adjusted quarterly profit of $2.19 per share, below the $3.07 Refinitiv consensus estimate. Sales of discretionary products were lower than expected.

Walmart fell for a second session after suffering its worst one-day loss since 1987. Walmart reported inflationary challenges in its disappointing first-quarter report Tuesday.

The home improvement retailer's shares fell on the back of weaker-than- expected revenue for the first quarter. The company posted revenue of $23.66 billion, which was higher than expected. Demand for outdoor project supplies was hurt by the cooler spring weather.

Dollar Tree and other retail names were dragged lower by Target and Walmart, both of which reported struggling with rising costs and inventory issues. Dollar Tree shares plummeted more than 16%, Dollar General lost more than 11%, and Costco fell more than 12%.

TJX Companies' shares jumped 6.3% after the company reported quarterly earnings that beat analysts' estimates, as other retailers report seeing inflation cut into their profits.

Shoe Carnival's shares rose after it beat expectations. Shoe Carnival reported a quarterly profit of 95 cents per share, 9 cents above the Refinitiv consensus estimate. The full-year outlook was raised by the company.

Container Store's shares gained 8.7% after the storage and organization products retailer posted better-than- expected profit and revenue for its latest quarter. The container Store said it wanted to reach $2 billion in sales by the year 2027.

The cloud-based platform dropped after issuing a current-quarter revenue forecast below Wall Street estimates.

The stock dipped after Goldman changed its opinion on the stock from buy to neutral. Goldman said it sees a longer path to growth for the eyewear retailer, which reported lower-than- expected quarterly earnings earlier this week.

CNBC's Tanaya Macheel contributed reporting.