Target Corporation's stock dip is more about politics than performance. Explore the potential opportunity under new leadership. Click for more on TGT earnings.

Target Corporation (NYSE:TGT) shares are trading lower in the premarket session on Wednesday. The company reported second-quarter adjusted earnings per share of $2.05, beating the analyst consensus estimate of $2.

Target announced it was replacing CEO Brian Cornell with 20-year company veteran Michael Fiddelke, and shares plunged.

Target's Q2 earnings beat estimates, but profitability remains under pressure with declining margins and net income down over 20%. Click for my TGT update.

Target Corp. is leading the S&P 500 index’s decliners after the discount retailer announced that Chief Executive Brian Cornell is stepping down next year, to be replaced by the company’s Chief Operating Officer Michael Fiddelke.