Target Shares Down Over 20% on Earnings, Lowe's Beat on EPS

Target (TGT) shares are down over 20% this morning on 1Q22 earnings numbers reported before market open. Target missed on EPS with rising costs that ate into profit margins because they are not passing on those costs to consumers, say Michael Zarembski. Lowe's (LOW) reported earnings with a beat on EPS and a slight miss on revenue. Walmart (WMT) also had disappointing EPS numbers. Michael discusses the decline in the housing demand due to increased costs and higher mortgage rates. Michael and Ben look at the chart of Lennar (LEN) and Michael says there may be value in the housing stocks.