TJX - Hot Stocks: TGT NXGN drop on earnings; TJX TCS rally

An earnings-induced retreat in Target (NYSE:TGT) put pressure on the retail sector in Wednesday's intraday trading. The stock lost a quarter of its value as its latest results showed signs that inflation was cutting into profits. Even with TGT's disappointment, there were bright spots in the retail sector. TJX (TJX) and The Container Store (TCS) both rose following their own quarterly reports. In other earnings news, NextGen Healthcare (NXGN) retreated following the release of its financial figures. Decliners Target (TGT) endured a massive sell-off in the wake of its latest quarterly report. High costs, driven by ongoing inflation, cut into the retailer's bottom line, sparking a 25% drop in its share price during midday action. TGT impressed analysts with its revenue figure, revealing a top line that rose 4% from last year. However, the firm's earnings number came in well short of expectations, hurt by lower margins. NextGen Healthcare (NXGN)

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Hot Stocks: TGT, NXGN drop on earnings; TJX, TCS rally