Home Depot (HD) has revealed a surprisingly strong quarter. The home improvement behemoth made 95-cents a share, a nickel better than expectations and up from 3-cents a year ago. Revenues also topped estimates at nearly $19.5-billion. The stock is up more than 3% on these numbers.
Also reporting is Best Buy (BBY). It's plunged more than 7% in the premarket despite beating earnings expectations by 6-cents a share. Perhaps that's because revenues were slightly below the consensus. It could also be that the stock was up 269% year-to-date and ready for a pullback.
Campbell's Soup (CPB) also reported this morning, and it was a big miss. The company made 66-cents a share, 20-cents below estimates. Revenues were also below the consensus at $2.17-billion when estimates had been for $2.29-billion. The stock is now down more than 5% in early trading.
Also reporting this morning was Dick's Sporting Goods (DKS). The retailer exceeded expectations earning 40-cents a share beating analysts predictions by a penny. Sales also surpassed the consensus at $1.4-billion when estimates had come in at $1.37-billion. Dick's heads into the holiday season up 23% year-to-date.
Facebook (FB) is among a number of social media stocks which tumbled yesterday, down 6.5%. Newly-listed Twitter (TWTR) was also down more than 6% and Pandora (P) was down nearly that much. The fall came after an article in Barrons over the weekend called "Bubble Trouble." It talked about a social media stock froth. As for Facebook, it's now down 15% in the last month. However, if you got in at the original price back in May of last year you've still made 20% on the investment.
Tesla (TSLA) is down again this morning. This after finishing yesterday down over 10%. The plunge follows three fires for its Model S plug-in sedan and the announcement that the car will now be investigated by U.S. auto regulators. A recall of the Model S, which the company calls the "safest in America" could follow. It has been a rocky month for Tesla, which has seen its stock drop over 33%. Even with all this bad news, Tesla is still up over 240% since the beginning of this year.