Target named insider Michael Fiddelke on Wednesday as its new CEO to succeed long-time top boss Brian Cornell, and beat quarterly estimates, helped by a recovery in traffic at its stores and average receipts.

However, the company's shares fell 8% after it held on to its annual forecasts after lowering them in May when it blamed weak demand for the largely discretionary merchandise it sells like apparel and electronics items.

Estee Lauder forecast annual profit below Wall Street estimates on Wednesday, as the cosmetics giant grapples with persistent weakness in the U.S. and China markets and tariff uncertainty. Shares of the company were down over 2%.

TJX Cos raised its annual profit forecast on Wednesday, betting on resilient demand for apparel and home furnishing at its off-price retail stores, sending its shares 4.5% higher.

The company also beat estimates for second-quarter sales and profit as budget-conscious shoppers flocked to discount stores to sidestep uncertainties around how the Trump administration's tariffs will impact prices going ahead.

Analog Devices forecast fourth-quarter revenue above analysts' expectations on Wednesday, as the company anticipates stable demand for its products despite tariff uncertainty.

The chipmaker has benefited from increased demand in its industrial segment, resulting in healthy bookings trends and growth in its order backlog, as manufacturers pulled forward shipments amid shifting U.S. tariff policies.

Shares of the Wilmington, Massachusetts-based company rose about 2%.