Target beats 2Q profit forecastsMINNEAPOLIS — Target today reported fiscal second-quarter net income of $680 million.The Minneapolis-based company said it had profit of $1.16 per share. Earnings, adjusted for one-time gains and costs, came to $1.23 per share.The results beat Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.14 per share.The retailer posted revenue of $16.17 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $16.25 billion.For the current quarter ending in November, Target expects its per-share earnings to range from 75 cents to 95 cents.The company expects full-year earnings in the range of $4.80 to $5.20 per share.Target shares have increased 4 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 7 percent. The stock has fallen slightly more than 4 percent in the last 12 months.

Lowe’s misses 2Q expectationsMOORESVILLE, N.C. — Lowe’s today reported fiscal second-quarter earnings of $1.17 billion.The Mooresville, North Carolina-based company said it had profit of $1.31 per share. Earnings, adjusted for non-recurring costs, came to $1.37 per share.The results missed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $1.42 per share.The home improvement retailer posted revenue of $18.26 billion in the period, also falling short of Street forecasts. Nine analysts surveyed by Zacks expected $18.72 billion.Lowe’s expects full-year earnings to be $4.06 per share.Lowe’s shares have climbed 7 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed nearly 7 percent.