NEW YORK — Sometimes solid sales and earnings growth are no match for high expectations.
Target Corp. learned that the hard way Thursday when its shares continued to tumble after the company said second-quarter profits just missed analysts’ expectations. In a huge surge of trading where average volume more than tripled, Target’s stock fell 5.6 percent, or $2.24, to settle at $37.70 on the New York Stock Exchange. On Friday, Target shares regained a fraction of that, moving up 19 cents, or 0.5 percent, to close at $37.89, but that was still well below the 52-week high of $40.33 it hit in trading on Wednesday.
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