Good morning Wake-Up Watchlisters! While you’re sipping coffee you’ll see stock futures dipped on Wednesday. ‘Organized retail crime’ played a role as a major retailer reported a big earnings miss (more on that below).

The Commerce Department is set to release its latest retail sales report at 8:30 a.m. If numbers are high, it could hurt the market’s uptrend as the Federal Reserve Policymakers will consider continuing aggressive rate hikes.

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Here’s a look at the top-moving stocks this morning.

Target (NYSE: TGT)

Target is down 13.19% premarket after it was revealed theft accounted for $400 million in losses in 2022 so far. This inventory shrinkage isn’t just affecting Target, but also other big name retailers like Best Buy and Rite-Aid.

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Burning Rock Biotech Limited (Nasdaq: BNR)

Burning Rock is up 10.53% premarket after reporting results for the third quarter. In-hospital strategy was a key driver, accounting for 24% growth year-over-year. MRD volumes also ramped up, with 700 tests completed in the third quarter, more than doubling the volumes in the second quarter.

Carnival Corporation & plc (NYSE: CCL)

Carnival Corporation is down 13.35% premarket after the cruise line commenced a private offering of $ 1 billion in convertible senior notes due in 2027. The funds will be used as part of Carnival’s 2024 refinancing plan. Fellow rivals Royal Caribbean (RCL) and Norwegian Cruise Line (NCLH) also fell on the news.

Advance Auto Parts (NYSE: AAP)

Advance Auto Parts is down 15.18% premarket after the company missed on third-quarter earnings and lowered full-year guidance. Net sales increased 0.8% to $2.6 billion while comparable store sales decreased .7%. The company also cut its full-year 2022 earnings per share view to $12.60 to $12.80, which is down from $12.75 to $13.25.

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Those are the top market movers today.

Happy trading!

The Wake-Up Watchlist Research Team