TJX Companies also reported a top- and bottom-line beat for the second quarter
The retail sector is in focus today, with earnings from Macy’s (M) and Target (TGT) to unpack. TJX Companies Inc (NYSE:TJX) also announced quarterly results earlier, with both its top- and bottom-line beating analysts’ expectations for the second quarter. At last check, TJX was up 6.2% to trade at $120.40, after the company also raised its full-year profit forecast.
The shares surged to a record high of $120.89 earlier, and are on track for their third-straight daily pop and best single-day percentage gain since April 2022. After bouncing off the 60-day moving average, TJX Companies stock now boasts a 28.2% year-to-date lead.
Options volume is running at six times the intraday average amount, with 43,000 calls and 20,000 puts exchanged so far today. Most popular is the weekly 8/23 120-strike call, where positions are being opened.