|Day's Range||11.60 - 12.70|
U.S. stock futures marched higher Tuesday morning, adding to gains after closing at record highs at the start of the week.
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Broadcom and Medtronic were early leaders Tuesday, as futures gained, while Home Depot stock dragged on the Dow Jones.
Home Depot shares are dropping in premarket trading after the company cut full-year sales growth guidance. But it doesn’t seem to be weighing on the overall market.
Dow futures pared gains as Home Depot dived on weak sales. Roku slid on a share offering. Broadcom neared a buy . ServiceNow will join the S&P; 500\. Medicines Co. soared on buyout buzz.
U.S. stock-index futures on Tuesday drift higher as investors look to extend a record rally for stocks despite uncertainty about progress for a partial China trade deal and headwinds from an influential Dow component, Home Depot, which delivered quarterly results that disappointed on sales.
Stock are on quite a run and U.S. equity markets are set to open higher again on Tuesday. Home Depot shares, on the other hand, are dropping after company management cut sales growth guidance.
(Bloomberg) -- Home Depot Inc.’s shares dropped in early U.S. trading after the retailer giant missed third-quarter sales estimates and trimmed its annual growth outlook for the second time this year.Some online investments didn’t pan out as early as expected, and the benefits will take longer to materialize, Home Depot said in a statement Tuesday. Same-store sales -- a key measure of a chain’s performance -- gained 3.6% in last quarter, compared with the average projection for 4.6% growth, according to Consensus Metrix. The company now sees same-store sales growth of 3.5% for the full year, down from 4% previously. It was the second time the company cut the guidance this year.Home Depot gets scrutinized because it can be seen as a harbinger of the American consumer and the real estate market. Still, Jefferies analysts said in a note to investors they interpreted the lighter second-half results to be “more tied to timing of returns on strategic investments” than the sign of a softer macro-economic demand for the home-improvement retailer. The analysts still recommend buying the stock.The shares dropped 4.9% in pre-market trading. Home Depot had advanced 39% this year through Monday’s close, exceeding gains in the S&P 500 Index.Rival Lowe’s Cos, due to report its results before markets open on Wednesday, fell 2.2%. One of the big questions entering last quarter was how big of an impact a resurgent Lowe’s. The smaller competitor had out-performed Home Depot in same-store sales growth the past two quarters.The results came even as existing home prices in the third quarter rose 5.1% from a year earlier, boosted by a decline in borrowing costs. Home prices are the economic data point that Home Depot’s management cares most about, because when values rise property owners spend more.Department-store stocks also dropped in premarket Tuesday after Kohl’s Corp. reported quarterly sales that trailed analysts’ projections.To contact the reporter on this story: Matt Townsend in New York at email@example.comTo contact the editors responsible for this story: Anne Riley Moffat at firstname.lastname@example.org, Cécile Daurat, Jonathan RoederFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
Home Depot (HD) delivered earnings and revenue surprises of 0.00% and -0.91%, respectively, for the quarter ended October 2019. Do the numbers hold clues to what lies ahead for the stock?
The home improvement retailer’s shares have lagged behind the stock of its main competitor, Home Depot, this year, but some analysts think that (LOW) stock is well-positioned to rise as the housing market continues to feel the boost of the Federal Reserve’s interest-rate cuts. Lowe’s stock (ticker: LOW) is up about 25% so far this year. Here is what Wall Street expects from Lowe’s, along with some recent history and analyst commentary.
Shares of Home Depot Inc. are dropping 4.8% in premarket trading Tuesday, enough to keep the Dow Jones Industrial Average's gains from reaching triple digits, after the home improvement retailer missed fiscal third-quarter revenue expectations and cut its full-year outlook. The stock's implied price decline would shave about 78 points off the Dow's price, while Dow futures rose 59 points. The decline would snap a five-day win streak that took the stock to a record close on Monday. The stock had run up 14.9% over the past three months through Monday, while the Dow had gained 7.3%.
Home Depot Inc said on Tuesday the marriage of its online and brick-and-mortar businesses was not yet generating as much revenue as it had expected, prompting the retailer to cut its 2019 sales forecast for the second time this year. Shares of the largest U.S. home improvement chain, which have risen nearly 40% this year, fell 4.5% to $228 in premarket trading. To keep customers away from smaller rival Lowe's Cos Inc , Home Depot invested heavily in its online business, primarily by adding automated lockers in stores for shoppers who want to pick up their orders rather than wait for them to be delivered.
Shares of the largest U.S. home improvement chain, which have risen nearly 40% this year, fell 4.5% to $228 in premarket trading. To keep customers away from smaller rival Lowe's Cos Inc , Home Depot invested heavily in its online business, primarily by adding automated lockers in stores for shoppers who want to pick up their orders rather than wait for them to be delivered. Home Depot has also worked on its supply network to shorten delivery times and developed a more user-friendly website, under a program called "One Home Depot", first announced in December 2017.
Home Depot narrowly topped Q3 earnings views, but missed on sales and cut full-year guidance. Shares plunged.
Home Depot lowered its fiscal year sales guidance as it reported a 3% decline in its fiscal third quarter to Nov. 3 earnings of $2.77 billion, or $2.53 a share. Revenue rose 3.5% to $27.22 billion, and its U.S. comparable-store sales grew 3.8%. The company said its sales were below expectations because of "the timing of certain benefits associated with its One Home Depot strategic investments." Analysts polled by FactSet expected earnings of $2.52 a share on sales of $27.53 billion. For the year, Home Depot still expects earnings per share growth of 3.1% but trimmed its sales growth view to 1.8% from 2.3%.
ATLANTA , Nov. 19, 2019 /PRNewswire/ -- The Home Depot ® , the world's largest home improvement retailer, today reported third quarter fiscal 2019 sales of $27.2 billion , an increase of 3.5 percent, or ...
Investing.com - U.S. futures rose on Tuesday after Washington extended an exception for U.S. companies that do business with black-listed Chinese firm Huawei, while retail earnings were on tap.
Home Depot posted modestly stronger-than-expected third quarter earnings Tuesday but trimmed its full-year sales guidance as the world's biggest home improvement retailer said some of its investments won't pay off until 2020.
Investing.com - Home Depot reported third quarter earnings that beat analysts' expectations on Tuesday and revenue that fell short of forecasts.
Investing.com -- Stocks react positively to the U.S.'s decision to cut Huawei more slack, while it's a big day ahead for retail earnings: updates are due from Kohl's, (NYSE:TJX), Urban Outfitters and HomeDepot. There are also updates on U.S. housing starts and building permits, and a head-to-head debate in the U.K. between the leaders of the Conservative and Labour Parties. Here's what you need to know in financial markets on Tuesday, 19th November.
The Home Depot co-founder will have the Arthur M. Blank School for Entrepreneurial Leadership established in his honor.