|Day's Range||58.61 - 58.61|
Retail giants Home Depot and Costco announced a limit in the amount of customers permitted in stores, and Macy’s will become a small cap business. Yahoo Finance’s On The Move panel breaks down the latest in retail.
There was a glimmer of hope in Spain’s battle with the coronavirus pandemic on Sunday, when the country recorded the lowest death rate overnight since March 26.
Zacks Value Investor Highlights: Lululemon, Ulta Beauty, Williams-Sonoma, Oxford Industries and Home Depot
The U.S. labor market showed further signs of damage from the coronavirus that causes COVID-19 on Friday as the global case tally continued to extend beyond a million and the death toll passed 55,000.
Battered S&P 500 stocks may get fresh interest from investors turning to dividends in a world of shrinking bond yields. The dividend yield on the S&P 500 now exceeds the yield on the benchmark 10-year U.S. Treasury by its highest margin in nearly five decades after a flight to safe-haven assets compressed government bond yields to record lows. Wall Street's coronavirus sell-off has left the S&P 500 down 26% from its February record high, lifting its dividend yield to 2.46%, the highest since 2009, according to Refinitiv's Datastream.
Lowe's Companies said Thursday it was raising wages by $2 an hour for all full-time, part-time and seaonal hourly workers for the month of April, throughout the U.S. and Canada. The home improvement retailer also said it will close all stores by 7 p.m., which is an hour later than when rival Home Depot Inc. said on Wednesday that it will close its stores. Lowe's said it will make masks and gloves available to all employees "who want them," and has developed an app, which is availabe on employees' hand-held devices, to implement a new customer limit protocol. The retailer has also installed Plexiglass shields at all points of sale and increased third-party cleaning shifts in the stores. Lowe's stock, which rose 0.8% in afternoon trading, has shed 32.3% year to date, while Home Depot shares have declined 18.3% and the Dow Jones Industrial Average has dropped 26.5%.
Good day,On March 26, a driver from Titanium Transportation Group picked up a truckload from The Home Depot in Cambridge, Ontario and delivered it more than 300 miles away in Canada's capital, Ottawa.Neither the load or the destination was ordinary. The truckload of N-95 face masks went to a federal Emergency Response Depot as part of the response to the COVID-19 pandemic. Also unusual: Home Depot donated the masks and Titanium transported them free of charge. Only the driver got paid."It was a small gesture," Titanium Chief Operating Officer Marilyn Daniel told FreightWaves. "But it felt good to help."Home Depot had initially offered to pay Titanium to haul the masks. But after learning of Home Depot's donation, the cross-border trucking and logistics company decided to follow suit.Did you know? Just over 9,700 carloads of motor vehicles and parts moved on North American railroads in the week ending March 28 – a nearly 67% drop compared to a year earlier.Quotable: "We're proud of how our team members have stepped up during this challenging time to make sure we continue fulfilling our critical mission of feeding people across America." – Tyson Foods, Inc. (NYSE: TSN) CEO Noel White on paying about $60 million in bonuses to truckers and frontline workers. In other news: Engineer charged with derailing train over coronavirus fearsProsecutors allege that an engineer intentionally derailed a train to target a U.S. Navy hospital ship over fears of the spread of COVID-19. (NBC San Diego)Truckers must wear a mask or face a $1,000 fine in LaredoA new ordinance in Laredo means that truck drivers face a $1,000 fine if they don't wear facemasks. (Transportation Nation)JPMorgan cuts estimates on trucking suppliersJPMorgan Chase & Co. (NYSE: JPM) has reduced its earnings estimates for truck and parts manufacturers because of the impact of the coronavirus pandemic. (Seeking Alpha)Florida truck drivers complain that too many cars are on the roadTruckers in Florida say too many people are still driving passenger vehicles and making it harder to do their job making vital deliveries. (WFLA)Final thoughts: Titanium transported the N-95 masks for free even as the freight market weakens. It also hasn't laid off employees, unlike some industry peers.Hammer down, everyone!Image: Titanium Transportation GroupSee more from Benzinga * Commentary: LifeBank Nigeria Saves Lives In Africa * Washington State Will Require A Minimum Train Crew Size * Freight Sales Survey: CRM (Customer Relationship Management)(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The U.S. death toll from the coronavirus that causes COVID-19 rose above 4,000 on Wednesday and financial markets sold off again, after President Donald Trump warned Americans to brace for two painful weeks as the numbers continue to climb.
Global markets sank Wednesday following a dire outlook from President Donald Trump on the outbreak in the United States late Tuesday, with the Dow opening down 900 points.
Just before the market correction driven by the coronavirus pandemic, Lowe's Companies (NYSE:LOW) was trading at a high of $126.73. LOW stock subsequently plunged and briefly traded around $60.Source: Helen89 / Shutterstock.com A strong relief rally has followed; driven by the $2 trillion stimulus package that has taken the stock higher. However, I believe that it's too early to assume a market bottom and further correction will be an opportunity to accumulate the stock. This column will discuss the factors that make Lowe's Companies worth considering.It's likely that the unemployment rate in the U.S. will increase to 13% by May 2020. Federal Reserve Bank of St. Louis President James Bullard predicts an unemployment rate of 30% by the second quarter of fiscal year 2020. Therefore, as the lockdown impacts businesses, the real impact will be felt in the coming quarters. This will keep the markets jittery.InvestorPlace - Stock Market News, Stock Advice & Trading TipsHowever, there are optimistic views as well. Michael Levitt, a Nobel laureate, is predicting a quicker coronavirus recovery. Michael Levitt has correctly predicted the end of the outbreak in China and this adds credibility to his views. * 30 Stocks on a Deathwatch Another optimistic view comes from a research by Harvard Business Review. Research shows that, "V-shapes monopolize the empirical landscape of prior shocks from an economic recovery perspective."The overall objective of this discussion is to underscore the following point: There is economic pain ahead and LOW stock can trend lower again. However, renewed growth is likely to be strong and there is no reason to panic. Instead, accumulating quality stocks should be the objective and Lowe's Companies is worth considering. Lowe's Companies Business ImpactLast week, Lowe's CEO Marvin Ellison opined that "As customers are sheltering in place, they're looking at that deferred list of home projects." Further, the company is still hiring for the spring season.This might indicate that there is limited initial impact of the coronavirus driven crisis on the company's revenue. This is a key positive and the management has not withdrawn or revised its earnings forecast.However, Marvin Ellison also pointed to the fact that the company is making special payments to full-time and part-time employees. Even if I assume that revenue is not impacted in an optimistic scenario, the company's margin is likely to be hit.Further, it remains to be seen if the demand from consumers remains at the same level in the coming quarters. If the unemployment rate indeed surges close to 30%, consumer spending will be impacted.It's worth noting that Scotts Miracle-Gro (NYSE:SMG) has guided for Q2 2020 revenue above consensus. The reason is demand for edible gardening, professional growing and pest control.Therefore, there are indications of resilient demand. This can translate into LOW stock outperforming the index. Valuation Perspective and Risk FactorFor FY2020, Low's Companies is expecting earnings per share of $6.45 at the low-end of the guidance range. Considering the current stock price of $86.98, LOW stock is trading at a price-to-earnings ratio of 13.5.The Home Depot (NYSE:HD) is trading at a P/E of 18.6 and Scotts Miracle-Gro is trading at a P/E of 19.6. Therefore, from a valuation perspective, the stock is not expensive. My only concern is renewed broad market correction, which can take the stock lower in the near-term. Gradual accumulation on correction is possibly the best strategy as uncertainty on the extent of slowdown sustains.stOne of the risk factors is that Lowe's Companies and Home Depot have 30% of products sourced from China. The impact of supply chain disruption will be evident in the coming months. Another risk factor is margin compression that I already discussed. It can impact the diluted EPS even if revenue guidance is on-track. My Concluding Views on LOW StockSome analysts are talking about the recent stimulus-driven More From InvestorPlace * 25 Stocks You Should Sell Immediately * 1 Under-the-Radar 5G Stock to Buy Now * This Stock Picker's Latest Video Just Went Viral * The 1 Stock All Retirees Must Own rally as a "dead cat bounce." This can be potentially true and renewed broad market correction will give investors a chance to buy quality stocks at mouth-watering valuations.LOW stock is worth keeping in the investment radar with the company having a decent balance sheet and a robust free cash flow.Once the coronavirus driven economic crisis is over, the stock can deliver robust returns in addition to attractive dividends.Faisal Humayun is a senior research analyst with 12 years of industry experience in the field of credit research, equity research and financial modeling. Faisal has authored over 1,500 stock-specific articles with a focus on the technology, energy and commodities sector. As of this writing, he did not hold a position in any of the aforementioned securities.The post LOW Stock Is Worth Accumulating Even as More Corrections Loom appeared first on InvestorPlace.
Home Depot added 80 hours of paid time off for all full-time hourly employees and 40 hours of paid time off for part-time hourly employees.
Home Depot said it will redirect shipments of N-95 masks to hospitals, healthcare providers and first responders around the country.
Home Depot Inc. announced Wednesday a number of new measures in an effort to mitigate the effects of the coronavirus pandemic. The home improvement retailer said it will close its stores early at 6 p.m., limit the number of customers allowed in its stores at one time, eliminate major spring promotions to avoid increasing traffic and distributing thermometers to employees in stores and asking for health checks before reporting to work. For its employees, the company said it was adding 80 hours of paid time off for full-time hourly employees, 160 hours of paid time off for full-time hourly employees aged 65 or older and 40 hours of paid time off for part-time hourly employees. The company is providing additional bonuses of $100 per week for full-time hourly in-store employees and $50 per week for part-time employees, and providing paid time off for employees who have contracted COVID-19 and to employees required to be quarantined. The stock, which is down 2.5% in premarket trading, has shed 14.5% over the past three months through Tuesday, while the Dow Jones Industrial Average has lost 23.2%.
The Home Depot®, the world's largest home improvement retailer, today provided an update on several temporary changes to its business in response to COVID-19.
DOW UPDATE Shares of Procter & Gamble and Home Depot are trading lower Tuesday afternoon, dragging the Dow Jones Industrial Average into negative territory. The Dow (DJIA) was most recently trading 124 points, or 0.
DOW UPDATE The Dow Jones Industrial Average is down Tuesday afternoon with shares of Procter & Gamble and Home Depot seeing the biggest drops for the price-weighted average. Shares of Procter & Gamble (PG) and Home Depot (HD) are contributing to the index's intraday decline, as the Dow (DJIA) was most recently trading 193 points lower (-0.
The bank’s analysts identified companies with strong fundamentals that are attractive because of ‘indiscriminate selling.’
The investors in The Home Depot, Inc.'s (NYSE:HD) will be rubbing their hands together with glee today, after the...
U.S. companies raised a record $109.1 billion through investment-grade bond sales this week, as corporate America hoarded cash following measures unveiled on Monday by the Federal Reserve to backstop the market for high-quality debt. Nike Inc, McDonald's Corp and Home Depot Inc were among 49 companies that borrowed money through investment-grade bonds this week, according to IFR Refinitiv data. The bond issuance frenzy came after the U.S. Federal Reserve on Monday rolled out an unprecedented series of measures to support an economy reeling from sweeping restrictions on commerce to slow the coronavirus pandemic.
The major stock indexes fell sharply early Friday, as U.S. coronavirus cases topped 92,000. Lululemon slid on earnings.