Stocks making the biggest premarket moves: Target, TJX, Sirius XM, Advance Auto Parts and more

People walk by a Target store in the Harlem neighborhood in Manhattan on September 28, 2023 in New York City. Spencer Platt | Getty Images News | Getty Images

Check out the companies making the biggest moves in premarket trading:

Target — Shares surged nearly 14% after the retail giant beat earnings and revenue expectations for its third quarter, with help from as purchases in high-frequency categories like food and beauty helped boost otherwise weaker customer spending. Target posted earnings per share of $2.10 compared with the expected $1.48, according to LSEG. Revenue of $25.4 billion topped estimates of $25.24 billion.

TJX Companies — The retailer shed 2.4% despite reporting and earnings and revenue beat. Third-quarter earnings per share came in at $1.03 versus the 99 cents expected from analysts polled by LSEG. Revenue of $13.27 billion topped estimates of $13.09 billion.

Sirius XM — Shares popped 8.6% after billionaire investor Warren Buffet revealed in a regulatory finding that he purchased 9.7 million shares of Sirius XM in the third quarter.

Generac — The stock added 3.5% following an upgrade to neutral from underperform by Bank of America. The bank said it sees “fewer lingering risks” into next year than it previously believed.

Advance Auto Parts — Shares slipped 1.8% after the car parts retailer reported a third-quarter earnings-per-share loss of 82 cents and lowered its earnings per share guidance for the year to $1.40 to $1.80 from $4.50 to $5.10. Advance Auto Parts also said it initiated the potential divestiture of two of its businesses.

JD.com — Shares of the Chinese e-commerce company jumped more than 4% after posting a top- and bottom-line beat for the third quarter. The company reported $1.09 billion in net profit for the quarter, which marked a 33% year-over-year increase. Management cited price competitiveness and supply-chain advantages for its strong results.

Energizer — The stock slipped nearly 4%, a day after gaining 7.4% on an earnings beat. On Wednesday, JPMorgan downgraded Energizer to underweight from neutral, citing the company’s weaker-than-expected guidance for its fiscal first quarter and the full year.

Holley — Shares jumped 10.4% after being upgraded to buy from hold by Jeffries. The firm said the automotive afterproducts company’s stock is trading at a significant discount to historical averages.

V.F. Corp — The apparel stock gained 3.9% in premarket trading. JPMorgan on Wednesday upgraded shares of V.F. Corp to neutral from underweight, saying the risk/reward profile for the company behind The North Face and Vans brands has improved. The stock is down 43% this year.

— CNBC’s Hakyung Kim, Sarah Min, Tanaya Macheel contributed reporting.