|Bid||191.22 x 1100|
|Ask||192.84 x 1300|
|Day's Range||191.27 - 195.98|
|52 Week Range||146.89 - 207.61|
|PE Ratio (TTM)||25.07|
|Earnings Date||Nov 13, 2018|
|Forward Dividend & Yield||4.12 (2.08%)|
|1y Target Est||214.03|
Yahoo Finance’s Seana Smith on the stocks making headlines in midday trading Tuesday.
The housing market isn’t doing so well this year, but somebody forgot to tell Home Depot. Considering what is happening in the housing market—home sales this year are running below last year’s levels as rising rates and higher prices cut into home affordability—that counts as an impressive performance. It is a reflection of a changed environment: In the past, home sales tended to drive purchases at Home Depot.
Home Depot Inc. raised its earnings and sales targets for the year as it continued to benefit from robust home-improvement activity and a strong U.S. economy in the latest quarter. The Atlanta company on Tuesday said it is targeting sales growth of about 7% and comparable-store sales growth of about 5.3%, above its prior guidance of 6.7% and 5%, respectively. Home Depot also raised its earnings target to $9.42 a share from its earlier forecast of $9.31 a share.
The markets may still be fretting over tariffs, trade and Turkey, but Jim Cramer told his Mad Money viewers Tuesday that he's more worried about a shift in consumer spending that no one seems to be talking about. Cramer said Home Depot reported a solid quarter, but saw shares slide half a percent on the company's grim outlook. This coincides with the 7.7% rise in Advanced Auto Parts.
While everyone else seems to be focused on tariffs, trade and Turkey, waiting for our internationally oriented companies to see their earnings collapse, I am much more worried about spending patterns at home. You may not know Tapestry because part of it is the old Coach. Tapestry reported a pretty good quarter, a slight top line bear and a solid bottom line beat but perhaps most important some really bullish guidance.
Earnings reports by Tapestry and Home Depot signal that spending habits have changed, says CNBC's Jim Cramer. Millennials feel that they have been priced out of the housing market, and are instead spending their paychecks on apparel and electronics. Tapestry TPR and Home Depot HD both reported second-quarter earnings before the bell on Tuesday, and CNBC's Jim Cramer thinks that the numbers reveal a lot about consumer spending patterns.
TheStreet's founder and Action Alerts PLUS Portfolio Manager Jim Cramer weighs in on Tuesday's trending market topics from the floor of the New York Stock Exchange.
Kevin Kelly, Benchmark Investments managing partner, discusses his options strategy with Bloomberg's Abigail Doolittle on "Bloomberg Markets." (Source: Bloomberg)
Wall Street's three major indexes rose on Tuesday with the S&P 500 posting its strongest gain in three weeks as a string of healthy earnings boosted investor optimism and a rebound in the Turkish lira eased fears of a broader financial contagion. Gains were widespread, and the S&P 500 and the Dow Jones Industrial Average ended four-day losing streaks. The Turkish lira regained some ground a day after it plunged to an all-time low.
Aug.14 -- Kevin Kelly, Benchmark Investments managing partner, discusses his options strategy with Bloomberg's Abigail Doolittle on "Bloomberg Markets."