Target and Barnes & Noble tumble; Urban Outfitters soars

NEW YORK, N.Y. – Stocks that moved substantially or traded heavily on Wednesday:

Target Corp., down $4.85 to $70.63

The big box retailer cut its annual profit forecast and lowered its estimates for sales at older stores.

Urban Outfitters Inc., up $4.81 to $36.05

The retailer said second-quarter sales at older stores improved, a surprise to analysts, who expected that measurement to decrease.

Barnes & Noble Inc., down $1.47 to $11.91

The book seller said CEO Ronald Boire will leave after less than a year after its board determined he was not a good fit

Lowe’s Cos., down $4.60 to $76.88

The home improvement retailer cut its annual profit forecast after it reported lower-than-expected earnings and weak sales at older stores.

Cree Inc., down $4.10 to $23.38

The lighting maker forecast disappointing earnings for the current quarter, and its sales estimate was far weaker than analysts expected.

Staples Inc., down 66 cents to $8.67

The office supply company’s quarterly results were about equal to analyst projections, but it said sales will continue to decline in the current quarter.

OSI Systems Inc., up $7.58 to $68.23

The airport security and body scanner company forecast strong results in the new fiscal year.

Lumber Liquidators Holdings Inc., up 56 cents to $16.84

A California court ruled in the company’s favour in a lawsuit that accused it of not properly warning customers that some of its flooring contained cancer-causing formaldehyde.