Why Target Stock Tanked on Thursday Morning

Shares of Target (TGT -2.99%) were sliding in Thursday morning trading after the retailer disappointed Wall Street with its updated guidance for fiscal Q4. As of 10:50 a.m. ET, the stock was down by 3.2%.For the fiscal quarter, which will end Feb. 1, management forecast that both GAAP and pro forma profits will come in somewhere between $1.85 per share and $2.45 per share. Unfortunately, according to data from Yahoo! Finance, Wall Street analysts had, on average, been expecting Target to earn $2.65 per shar ...