Dow component Home Depot (HD) reported mixed earnings results this morning. Revenue fell 3% from last year and narrowly missed Wall Street estimates, but per-share profits beat analysts' forecast by $0.02. Signs of recovery in the housing market have helped home-improvement companies like Home Depot outperform other retailers. Home Depot same-store sales rose 4.9% for the quarter. The company raised its dividend 21% and also said revenue for the year will come in slightly below estimates.
Tesla's (TSLA) meteoric rise continues after hitting a new record high yesterday. The company is expected to announce plans for a new factory that will manufacture what it calls its "gigabattery." This morning, Morgan Stanley raised its price target on Tesla to $320 a share from $153 a share, citing potential outside the electric car space including batteries. Shares of the stock in the past year are up a staggering 530%.
BlackBerry's (BBRY) big week continues after shares rose more than 6% yesterday. The company today revealed its new Blackberry Z3, its new low-cost smartphone intended for the Southeast Asia market. The phone will retail for less than $200. Ford's (F) also replacing Microsoft Windows with BlackBerry's QNX software in its cars beginning in 2016. Yesterday, we told you about BlackBerry's new plans to make its BBM messaging service available on more mobile devices.
LinkedIn (LNKD) shares are up sharply after the company launched a Chinese language version of its professional networking site yesterday. LinkedIn said it would censor some content in order to comply with Chinese rules. The move comes after two consecutive quarters of declining page views for the company. CEO Jeff Weiner said the Chinese language site would allow LinkedIn to reach 140 million professionals in China. The company's current user base is 277 million. In the last year, shares of LinkedIn are up about 28%.
And Apple (AAPL) is wading into a political storm in Arizona. The company joined 83 other signers on a letter to Arizona Gov. Jan Brewer asking her to veto the state's religious freedom bill. Supporters of the law say it will protect religious freedom. Critics say it will lead to discrimination against gays and lesbians in the workplace. Apple is preparing to open a new manufacturing plant in Mesa that will create about 700 full-time jobs. What do you think? Should companies get involved in politics? Cast your vote and post your comments below as well.
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