Target, CEO Change
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US Stock Market Today: S&P 500, NASDAQ Edge Lower
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The stock market dipped on Wednesday, driven by a decline in tech stocks and Target announcing the appointment of a new CEO
Target names a new CEO and posts quarterly earnings that beat analysts’ forecasts, while Palantir extends losses into a sixth-straight session.
The news the retail industry has been anticipating for months was finally announced on Wednesday: Target CEO Brian Cornell is finally stepping down after 11 years at the helm and will be replaced by his operations chief Michael Fiddelke in February.
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Barchart on MSNShould You Buy the Post-Earnings Dip in Target Stock?
Target (TGT) shares tanked as much as 10% on Aug. 20 after the retail giant reported market-beating financials for its Q2 but guided for a low single-digit percentage decline in full-year sales. On Wednesday,