Target names a new CEO and posts quarterly earnings that beat analysts’ forecasts, while Palantir extends losses into a sixth-straight session.

Target shares dropped as more details emerge about the retailer's profits. This comes as Walmart and The Home Depot prepare to report their quarter earnings. Akin Oyedele, a deputy editor at Business Insider,

In addition to announcing its Q2 2025 results, Target also revealed that it would be getting a new CEO. The company announced that its current CEO, Brian Cornell, will be stepping down from the role in February 2026. On February 1, its new CEO, Michael Fiddelke, will take the reins. Cornell has been Target’s CEO since 2014.

Shares in Target sank after the retailer reported its 11th straight quarter of flat or falling sales, and said Chief Operating Officer Michael Fiddelke will become its next chief executive. Target stock dropped more than 10% in premarket trading,

The stock market dipped on Wednesday, driven by a decline in tech stocks and Target announcing the appointment of a new CEO

In 2025, Walmart has been a clear outperformer, up 12%, while Target has slumped 22%. Technicians tend not to believe too much in mean reversion, because once trends are in motion, they are more likely to remain in place rather than reverse. Expect this dynamic to continue.

While the S&P 500 (^GSPC) includes industry leaders, not every stock in the index is a winner. Some companies are past their prime, weighed down by poor execution, weak financials, or structural headwinds.

Explore Target Corporation's financial health and strategy: strong credit quality, CEO transition in 2026, and an attractive 4.3% dividend. Click for my TGT update.