Tag: HD

Home Depot (NYSE:HD) Shares Down 1.9%

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The Home Depot, Inc. (NYSE:HD – Get Free Report)’s stock price was down 1.9% on Monday . The company traded as low as $337.49 and last traded at $337.60. Approximately 485,141 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 3,442,971 shares. The stock had previously closed at $344.24.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. HSBC decreased their price objective on Home Depot from $323.00 to $318.00 and set a “reduce” rating for the company in a research report on Wednesday, May 15th. Telsey Advisory Group reaffirmed a “market perform” rating and issued a $360.00 price target on shares of Home Depot in a research report on Tuesday, May 14th. TD Cowen dropped their price target on Home Depot from $440.00 to $420.00 and set a “buy” rating on the stock in a research report on Wednesday, May 15th. Wedbush reaffirmed an “outperform” rating and issued a $410.00 price target on shares of Home Depot in a research report on Friday, May 10th. Finally, Evercore ISI lifted their price objective on Home Depot from $415.00 to $420.00 and gave the stock an “outperform” rating in a report on Tuesday, May 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have issued a buy rating to the company. According to data from MarketBeat, Home Depot presently has a consensus rating of “Moderate Buy” and an average target price of $378.42.

Check Out Our Latest Analysis on HD

Home Depot Stock Performance

The company has a quick ratio of 0.42, a current ratio of 1.34 and a debt-to-equity ratio of 23.11. The company has a market cap of $332.16 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 2.38 and a beta of 0.99. The stock has a 50 day moving average price of $338.51 and a two-hundred day moving average price of $352.69.

Home Depot (NYSE:HD – Get Free Report) last posted its quarterly earnings data on Tuesday, May 14th. The home improvement retailer reported $3.63 earnings per share for the quarter, topping the consensus estimate of $3.61 by $0.02. Home Depot had a return on equity of 1,056.67% and a net margin of 9.79%. The firm had revenue of $36.42 billion during the quarter, compared to analyst estimates of $36.65 billion. During the same period last year, the company posted $3.82 EPS. The business’s quarterly revenue was down 2.3% on a year-over-year basis. On average, research analysts predict that The Home Depot, Inc. will post 15.28 earnings per share for the current fiscal year.

Home Depot Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, June 13th. Investors of record on Thursday, May 30th were given a $2.25 dividend. This represents a $9.00 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date was Thursday, May 30th. Home Depot’s payout ratio is 60.36%.

Insider Activity at Home Depot

In other Home Depot news, EVP Matt Carey sold 56,008 shares of Home Depot stock in a transaction dated Thursday, May 16th. The stock was sold at an average price of $345.18, for a total transaction of $19,332,841.44. Following the completion of the transaction, the executive vice president now owns 33,325 shares in the company, valued at approximately $11,503,123.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.10% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Home Depot

A number of hedge funds and other institutional investors have recently modified their holdings of HD. Bare Financial Services Inc purchased a new stake in Home Depot in the fourth quarter worth $26,000. Frank Rimerman Advisors LLC purchased a new stake in Home Depot in the fourth quarter worth $27,000. Keener Financial Planning LLC purchased a new stake in Home Depot in the fourth quarter worth $31,000. PFG Private Wealth Management LLC increased its position in Home Depot by 53.3% in the fourth quarter. PFG Private Wealth Management LLC now owns 92 shares of the home improvement retailer’s stock worth $32,000 after buying an additional 32 shares during the last quarter. Finally, Gilfoyle & Co LLC purchased a new position in shares of Home Depot in the fourth quarter valued at $35,000. Hedge funds and other institutional investors own 70.86% of the company’s stock.

Home Depot Company Profile

(Get Free Report)

The Home Depot, Inc operates as a home improvement retailer in the United States and internationally. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.

Further Reading

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July 3, 2024
Yousif Capital Management LLC Has $44.62 Million Stock Holdings in The Home Depot, Inc. (NYSE:HD)

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Yousif Capital Management LLC decreased its position in shares of The Home Depot, Inc. (NYSE:HD – Free Report) by 4.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 147,673 shares of the home improvement retailer’s stock after selling 6,374 shares during the period. Home Depot comprises 0.6% of Yousif Capital Management LLC’s holdings, making the stock its 22nd largest holding. Yousif Capital Management LLC’s holdings in Home Depot were worth $44,621,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in HD. VisionPoint Advisory Group LLC acquired a new stake in shares of Home Depot during the 2nd quarter worth approximately $26,000. Fairfield Bush & CO. acquired a new stake in Home Depot in the first quarter valued at approximately $27,000. KB Financial Partners LLC acquired a new stake in Home Depot in the first quarter valued at approximately $28,000. Studio Investment Management LLC acquired a new stake in Home Depot in the fourth quarter valued at approximately $32,000. Finally, Strategic Investment Solutions Inc. IL acquired a new stake in Home Depot in the first quarter valued at approximately $37,000. Institutional investors and hedge funds own 68.34% of the company’s stock.

Home Depot Stock Performance

NYSE HD opened at $355.71 on Tuesday. The company’s 50 day moving average is $329.09 and its 200-day moving average is $318.40. The Home Depot, Inc. has a 12-month low of $274.26 and a 12-month high of $361.00. The company has a quick ratio of 0.33, a current ratio of 1.30 and a debt-to-equity ratio of 28.37. The firm has a market cap of $354.02 billion, a P/E ratio of 22.83, a price-to-earnings-growth ratio of 2.64 and a beta of 0.97.

Home Depot (NYSE:HD – Get Free Report) last posted its quarterly earnings results on Tuesday, November 14th. The home improvement retailer reported $3.81 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.75 by $0.06. Home Depot had a net margin of 10.22% and a return on equity of 1,339.65%. The company had revenue of $37.71 billion for the quarter, compared to analyst estimates of $37.59 billion. During the same quarter in the previous year, the firm posted $4.24 earnings per share. The company’s quarterly revenue was down 3.0% compared to the same quarter last year. Sell-side analysts predict that The Home Depot, Inc. will post 15.05 earnings per share for the current year.

Home Depot Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, December 14th. Stockholders of record on Thursday, November 30th were given a $2.09 dividend. This represents a $8.36 annualized dividend and a dividend yield of 2.35%. The ex-dividend date was Wednesday, November 29th. Home Depot’s dividend payout ratio (DPR) is currently 53.66%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Telsey Advisory Group reaffirmed a “market perform” rating and set a $325.00 price target on shares of Home Depot in a research note on Wednesday, November 15th. Royal Bank of Canada dropped their price target on shares of Home Depot from $303.00 to $299.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 15th. Stifel Nicolaus raised their price target on shares of Home Depot from $306.00 to $355.00 and gave the company a “hold” rating in a research note on Wednesday, December 20th. Truist Financial raised their price target on shares of Home Depot from $356.00 to $387.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Finally, Barclays raised shares of Home Depot from an “equal weight” rating to an “overweight” rating and raised their price target for the company from $325.00 to $372.00 in a research note on Thursday, January 4th. Ten analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $349.04.

Read Our Latest Research Report on HD

Insider Buying and Selling

In related news, EVP William D. Bastek sold 1,612 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $313.90, for a total transaction of $506,006.80. Following the sale, the executive vice president now owns 17,966 shares of the company’s stock, valued at approximately $5,639,527.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP William D. Bastek sold 1,612 shares of the company’s stock in a transaction that occurred on Tuesday, November 28th. The shares were sold at an average price of $313.90, for a total transaction of $506,006.80. Following the sale, the executive vice president now owns 17,966 shares of the company’s stock, valued at approximately $5,639,527.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Ann Marie Campbell sold 127 shares of the company’s stock in a transaction that occurred on Wednesday, November 22nd. The stock was sold at an average price of $307.07, for a total transaction of $38,997.89. Following the sale, the executive vice president now directly owns 12,565 shares in the company, valued at approximately $3,858,334.55. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,114 shares of company stock valued at $966,456. Company insiders own 0.19% of the company’s stock.

Home Depot Profile

(Free Report)

The Home Depot, Inc operates as a home improvement retailer. It sells various building materials, home improvement products, lawn and garden products, and décor products, as well as facilities maintenance, repair, and operations products. The company also offers installation services for flooring, water heaters, bath, garage doors, cabinets, cabinet makeovers, countertops, sheds, furnaces and central air systems, and windows.

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Want to see what other hedge funds are holding HD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for The Home Depot, Inc. (NYSE:HD – Free Report).

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January 16, 2024
HD Stock Price | Home Depot Inc. Stock Quote (U.S.: NYSE) | MarketWatch

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Home Depot Inc.

The Home Depot, Inc. engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental. The company was founded by Bernard Marcus, Arthur M. Blank, Kenneth Gerald Langone and Pat Farrah on June 29, 1978, and is headquartered at Atlanta, GA.

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Tomi Kilgore

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January 10, 2024
Lowe’s Sales Disappoint as Consumers Pull Back. The Stock Is Dropping.

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Lowe’s earned more than expected in the third quarter but the stock was tumbling after the home-improvement retailer reported disappointing sales and noted that consumers were reining in spending.

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November 21, 2023
Walmart Beats on Earnings and Raises Guidance. Why the Stock Is Falling.

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Walmart topped third-quarter estimates and raised fiscal-year guidance. But investors were expecting more from the world’s largest retailer, sending the stock lower in premarket trading.

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November 16, 2023
Home Depot, Target, and More to Watch This Week

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Home Depot, Target, Cisco, Deere, Walmart, and More Stocks to Watch This Week

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August 13, 2023
Want companies to lower their prices? Stop buying stuff from them.

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The thing that will make companies lower prices is if consumers stop complaining about paying more for the things they need and want, and actually start refusing to buy them.

As the U.S. corporate earnings-reporting season progresses, with earnings from major retailers Walmart Inc.
WMT,
+0.59%,
Target Corp.
TGT,
+0.10%
and Home Depot Inc.
HD,
+0.52%
on tap next week, investors can get a ground-floor view of how consumer demand may have been hurt, or not, by higher prices, and what the companies plan to do, or not do, about it.

This dynamic of how consumers adjust their spending habits when prices change is referred to by economists as the price elasticity of demand.

“ For companies to cut prices, ‘you have to have the consumer go on strike, and they’re not there yet.’”

— Jamie Cox, Harris Financial Group

Those who trust companies will choose to ratchet down prices on their own, or at least not raise them because the rise in input costs has been slowing, haven’t been listening to what the many companies have told analysts on their post-earnings-report conference calls.

Read: U.S. inflation eases again, PCE shows. Prices rise at slowest pace in almost two years.

Kraft Heinz Co.
KHC,
+0.47%
acknowledged after its second-quarter report that its relatively higher prices have hurt demand, but not by enough for the food and condiments company to consider cutting prices.

Colgate-Palmolive Co.
CL,
+0.81%
said it will continue to raise prices, even as inflation slows and selling volume declines, as the consumer-products company continues to be laser focused on boosting margins and profits.

And while PepsiCo Inc.
PEP,
+0.16%
was worried that elasticities would increase, given how its lower-income customers were being particularly pressured by inflation, the beverage and snack giant reported strong results as it witnessed “better elasticities” in most of the markets in which it operated.

“Obviously, there is still carryover pricing, and I don’t think we’ll do anything different than our normal cycles on pricing in the balance of the year,” PepsiCo Chief Financial Officer Hugh Johnston told analysts, according to an AlphaSense transcript.

Basically, as MarketWatch has reported, so-called greedflation is alive and well.

Jamie Cox, managing partner for Harris Financial Group, said as long as the job market stays strong, as it is now, corporate greed will continue to pay off.

“If something is more expensive, and you have a job, you’ll complain about it, but you won’t substitute it for something cheaper,” Cox said. For companies to cut prices, “you have to have the consumer go on strike, and they’re not there yet,” Cox added.

“ ‘At some point, people are going to say, “All right — enough.” ’ ”

— Paul Nolte, Murphy & Sylvest Wealth Management

The reason elasticity is so important in the current environment is that, as long as consumers continue to pay the higher prices companies are charging, inflation will remain stubbornly high, making it, in turn, more likely that the Federal Reserve will continue to raise interest rates or, at the very least, not lower them.

But the longer interest rates stay high enough to crimp economic growth, the more likely the stock market will reverse lower as recession fears rise.

“At some point, people are going to say, ‘All right — enough,’ ” said Paul Nolte, senior wealth manager and market strategist at Murphy & Sylvest Wealth Management. “But we just haven’t seen that yet.”

What is elasticity?

Economists use the term “price elasticity of demand” to refer to the way in which consumers adjust their spending habits when prices change.

“Elasticity tries to measure how much more producers will want to produce if prices rise, and how much more consumers will want to buy if prices fall,” explained Bill Adams, chief economist at Comerica.

Elasticity often depends on the type of product a company sells.

For example, consumer-discretionary-goods companies that sell products and services that people want will often experience greater price elasticity than consumer-staples companies that sell things that people need, such as groceries and prescription drugs.

But even for needs, consumers often still have a choice, as less expensive generic, or private-label, alternatives may be available.

Andre Schulten, chief financial officer of consumer-staples maker Procter & Gamble Co.
PG,
+0.58%,
which recently beat earnings expectations as it continued to raise prices, telling analysts that, while there was “some trading into private label,” the overall market share of private-label products was unchanged for the year.

As Harris Financial’s Cox said, consumers may be complaining about higher prices, but they aren’t yet desperate enough to stop buying.

The Federal Reserve’s latest Beige Book economic survey stated that business contacts in some districts had observed a “reluctance” to raise prices as consumers appeared to have grown more sensitive to prices, but other districts reported “solid demand” allowed companies to maintain prices and profitability.

That’s likely why companies and analysts have become less concerned about price elasticity. Based on a FactSet analysis, mentions of the word “elasticity” in press releases and conference calls of S&P 500 companies
SPX
increased as inflation and interest rates started surging in early 2022 through the end of the year.

With inflation trends softening this year, the Fed took a brief pause in raising rates in June, helping fuel further stock-market gains, before raising rates again in July.

Mentions of the word elasticity in earnings press releases and conference-call transcripts of S&P 500 companies.

FactSet

As the chart shows, “elasticity” popped up in more than 55% of earnings releases and conference calls in mid-2022, but with the second-quarter 2023 earnings-reporting season more than half over, mentions had dropped to about 20%.

Perhaps that will pick up, as retailers, especially those catering to lower-income customers — recall the PepsiCo comment — assess the demand impact of continued price increases.

Meanwhile, the branded-foods company Conagra Brands Inc.
CAG,
+0.71%,
whose wide-ranging food brands including Birds Eye, Duncan Hines, Hunt’s, Orville Redenbacher’s and Slim Jim, were starting to see the emergence of a different dynamic.

Chief Executive Sean Connolly said consumers were shifting behavior in some categories as prices remained high. Rather than trade down to lower-priced alternatives, he noticed some consumers buying fewer items overall, “more of a hunkering down than a trading down.”

That’s exactly the kind of consumer behavior that is needed, if companies are to stop feeding into the greedflation phenomenon and to start pulling back on prices.

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August 13, 2023
Lowe’s stock falls after earnings beat expectations but full-year guidance was cut

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Shares of Lowe’s Companies Inc. dropped Tuesday, after the home-improvement retailer beat fiscal first-quarter profit and sales expectations but cut its full-year outlook, citing lower demand for discretionary items.

Net income for the quarter to May 5 was $2.26 billion, or $3.77 a share, after income of $2.33 billion, or $3.51 a share, in the same period a year ago. Net income fell while earnings per share increased as the number of shares outstanding used to calculate EPS dropped 9.8% to 597 million.

Excluding nonrecurring items, such as an asset-sale gain, adjusted EPS of $3.67 beat the FactSet consensus of $3.44.

Total sales declined 5.5% to $22.35 billion, above the FactSet consensus of $21.60 billion, while the same-store sales decline of 4.3% missed expectations for a 3.4% decline.

Cost of sales fell less than sales, down 5.1% to $14.82 billion, as gross margin contracted to 33.7% from 34.0%. The value of merchandise inventory as of May 5 fell 3.5% from a year ago to $19.52 billion.

The stock
LOW,
-1.51%
shed 1.0% ahead of the open, but pared earlier premarket losses of as much as 3.4%.

During the quarter, Lowe’s said it spent $2.1 billion to repurchase 10.6 million shares and paid out $633 million in dividends.

“We are pleased with the performance of our business despite record lumber deflation and unfavorable spring weather,” said Chief Executive Officer Marvin Ellison. “Although we delivered positive comparable sales in Pro and online for the first quarter, we are updating our full-year outlook to reflect softer-than-expected consumer demand for discretionary purchases.”

For fiscal 2023, the company lowered its guidance ranges for adjusted EPS to $13.20 to $13.60 from $13.60 to $14.00 and sales to $87 billion to $89 billion from $88 billion to $90 billion. The outlook for same-store sales was revised to down 2% to down 4% from flat to down 2%.

Meanwhile, Wall Street’s full-year estimates were within the lowered guidance ranges, as the FactSet consensus for EPS was $13.56. The estimate for sales was $88.36 billion and for same-store sales was a decline of 2.2%.

Lowe’s results came less than a week after rival Home Depot Inc.
HD,
-0.08%
reported a first-quarter profit beat — but sales missed expectations. Home Depot also lowered its full-year outlook.

The stock has gained 2.0% year to date through Monday, while Home Depot shares have dropped 8.0% and the S&P 500 index
SPX,
+0.02%
has advanced 9.2%.

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May 23, 2023
Wedbush Trims Home Depot (NYSE:HD) Target Price to $290.00

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Home Depot (NYSE:HD – Get Rating) had its target price cut by Wedbush from $300.00 to $290.00 in a research report report published on Wednesday morning, The Fly reports. Wedbush also issued estimates for Home Depot’s Q2 2024 earnings at $4.37 EPS, Q3 2024 earnings at $3.74 EPS, Q4 2024 earnings at $2.82 EPS, FY2024 earnings at $14.76 EPS, FY2025 earnings at $15.84 EPS and FY2026 earnings at $16.91 EPS.

A number of other brokerages have also commented on HD. Citigroup cut their price target on Home Depot from $332.00 to $327.00 in a report on Wednesday, May 10th. Sanford C. Bernstein cut their price target on Home Depot from $333.00 to $314.00 in a report on Wednesday. Piper Sandler cut their price target on Home Depot from $320.00 to $300.00 in a report on Wednesday, February 15th. Bank of America lowered their price objective on Home Depot from $360.00 to $346.00 in a research report on Wednesday, February 22nd. Finally, UBS Group lowered their price objective on Home Depot from $350.00 to $340.00 and set a buy rating on the stock in a research report on Wednesday, February 22nd. Thirteen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $323.25.

Home Depot Stock Down 1.5 %

HD opened at $290.88 on Wednesday. Home Depot has a twelve month low of $264.51 and a twelve month high of $347.25. The firm has a market cap of $294.57 billion, a P/E ratio of 17.73, a price-to-earnings-growth ratio of 1.89 and a beta of 0.93. The business has a 50 day moving average price of $290.67 and a 200 day moving average price of $306.12. The company has a debt-to-equity ratio of 113.02, a quick ratio of 0.33 and a current ratio of 1.27.

Home Depot (NYSE:HD – Get Rating) last issued its quarterly earnings results on Tuesday, May 16th. The home improvement retailer reported $3.82 EPS for the quarter, topping analysts’ consensus estimates of $3.80 by $0.02. Home Depot had a return on equity of 1,936.63% and a net margin of 10.75%. The company had revenue of $37.26 billion during the quarter, compared to analyst estimates of $38.35 billion. During the same period in the previous year, the company earned $4.09 earnings per share. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. Research analysts forecast that Home Depot will post 15.01 EPS for the current year.

Home Depot Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 15th. Stockholders of record on Thursday, June 1st will be issued a dividend of $2.09 per share. This represents a $8.36 annualized dividend and a dividend yield of 2.87%. The ex-dividend date is Wednesday, May 31st. Home Depot’s payout ratio is presently 50.94%.

Insider Activity

In other news, EVP Hector A. Padilla sold 1,502 shares of the company’s stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $293.09, for a total transaction of $440,221.18. Following the transaction, the executive vice president now owns 13,958 shares of the company’s stock, valued at $4,090,950.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Home Depot

Several large investors have recently made changes to their positions in HD. Slow Capital Inc. acquired a new position in Home Depot in the first quarter valued at about $25,000. Kalos Management Inc. acquired a new position in Home Depot in the first quarter valued at about $26,000. Fairfield Bush & CO. acquired a new position in Home Depot in the first quarter valued at about $27,000. Glassy Mountain Advisors Inc. acquired a new position in Home Depot in the fourth quarter valued at about $30,000. Finally, KB Financial Partners LLC acquired a new position in Home Depot in the first quarter valued at about $28,000. Institutional investors and hedge funds own 68.31% of the company’s stock.

Home Depot Company Profile

(Get Rating)

The Home Depot, Inc engages in the sale of building materials and home improvement products. Its products include building materials, home improvement products, lawn and garden products and decor products. The firm operates through the following geographical segments: U.S., Canada and Mexico. It offers home improvement installation services, and tool and equipment rental.

Further Reading

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May 20, 2023
Home Depot stock falls after sales miss and lowered outlook, citing lumber deflation and bad weather

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Shares of Home Depot Inc. dropped Tuesday, after the home improvement retail giant reported fiscal first-quarter profit that topped expectations but sales that fell short, and it cut the full-year outlook, citing lumber deflation and bad weather.

Net income for the quarter to April 30 fell to $3.87 billion, or $3.82 a share, from $4.32 billion, or $4.09 a share, in the same period a year ago. That topped the FactSet consensus for earnings per share of $3.80.

Sales declined 4.2% to $37.26 billion, well below the FactSet consensus of $38.31 billion.

“Our sales for the quarter were below our expectations primarily driven by lumber deflation and unfavorable weather, particularly in our Western division as extreme weather in California disproportionately impacted our results,” said Chief Executive Officer Ted Decker.

Overall same-store sales fell 4.5% to miss the FactSet consensus for a 1.6% decline, with same-store sales in the U.S. falling 4.6%.

The stock sank 3.6% toward a seven-month low in premarket trading.

“Given the negative impact to first quarter sales from lumber deflation and weather, further softening of demand relative to our expectations, and continued uncertainty regarding consumer demand, we are updating our guidance to reflect a range of potential outcomes,” said Chief Financial Officer Richard McPhail.

For fiscal 2023, the company cut its EPS outlook to a decline of between 7% and 13% from a decline in the mid-single digit percentage range, and lowered its sales outlook to a decline of between 2% and 5% from approximately flat.

The stock has dropped 10.2% over the past three months through Monday, while the Dow Jones Industrial Average
DJIA,
+0.14%
has slipped 1.0%.

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May 16, 2023
Walmart, Alibaba, Target, and More Stocks to Watch This Week

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Walmart, Alibaba, Target, and More Stocks to Watch This Week

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May 14, 2023
Housing stocks see broad rally after strong home-sales data

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The home-building sector enjoyed a broad rally in morning trading Tuesday, after data showing existing-home sales in February rose a lot more than expected. The iShares U.S. Home Construction exchange-traded fund
ITB,
+0.99%
climbed 1.3% toward a five-week high, with all 48 equity components gaining ground. Among the ETF’s more active components, shares of Home Depot Inc.
HD,
-0.02%
advanced 0.9%, D.R. Horton Inc.
DHI,
+0.04%
rose 0.5%, KB Home
KBH,
+2.83%
tacked on 2.4%, Lennar Corp.
LEN,
+1.27%
rallied 1.3% and PulteGroup Inc.
PHM,
+1.03%
was up 1.1%. The National Association of Realtors said Tuesday that existing-home sales for February leapt 14.5% to an annual rate of 4.58 million, the largest increase since July 2020, enough to reverse 12 months of losses and well above expectations of 4.2 million. The home construction ETF has hiked up 12.0% over the past three months, while the S&P 500
SPX,
+1.27%
has gained 2.7%.

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March 21, 2023
Intel Cut Its Dividend. These Stocks Could Be Next.

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Intel

is cutting its dividend. In a treacherous environment for the economy and profits, more companies could do the same.

On Wednesday, Intel (ticker: INTC) cut its dividend by 66% to an annual 50 cents a share, helping push the stock down about 16% in the past month. Intel has lost market share for chips to

Advanced Micro Devices

(AMD) and has struggled to meet Wall Street’s earnings targets. Weighing on earnings is weak PC demand, with year-over-year declines in sales. A dividend cut this large may partly reflect the economic environment, but also the company’s own problems.

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February 23, 2023
Walmart, Home Depot, Meta, DocuSign, Medtronic, and More Stock Market Movers
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https://www.barrons.com/articles/stock-market-movers-5b0c54ae
Updated Feb. 21, 2023 9:16 am ET / Original Feb. 21, 2023 5:04 am ET

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February 21, 2023
Tesla stock wipes out three-day bounce, falls to lowest price in more than 2 years
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It has taken just one day for Tesla Inc.’s stock to erase the entire bounce it enjoyed over the last three days trading sessions of 2022, as disappointing deliveries data helped trigger the biggest selloff in more than two years.

The stock’s
TSLA,
-12.24%
Tuesday drop knocked the electric vehicle maker’s market capitalization to 15th on the list of most valuation S&P 500 index companies.
On Tuesday, Tesla’s market cap fell below that of consumer products company Procter & Gamble Co.
PG,
+0.01%,
with a current market cap of $359.18 billion, and was just below Nvidia Corp.
NVDA,
-2.05%
at $352.15 billion, according to FactSet data. Tesla sat just above Chevron Corp.
CVX,
-3.06%,
which was at $336.43 billion. (See list of S&P 500’s 20 most valuable companies as of Tuesday’s closing prices below.)

Tesla’s stock took a $15.08, or 12.2% dive, to $108.10 on Tuesday, to lead the S&P 500’s
SPX,
-0.40%
decliners, after the company reported over the weekend that fourth-quarter deliveries that came up short of expectations for the third quarter in a row. It suffered the biggest one-day decline since it plummeted 21.1% on Sept. 8, 2020, and closed at the lowest price since Aug. 13, 2020.

Don’t miss: Tesla delivery-target miss shows ‘demand cracks clearly happening’ that mean ‘numbers could be materially reset’ for coming years, analysts write.

With about 3.16 billion shares outstanding as of Oct. 18, the stock’s decline shaved about $47.62 billion off Tesla’s market cap, to bring it down to $341.35 billion. That’s a far cry from the peak market cap of $1.24 trillion reached exactly one-year ago.

After the stock hit the deepest oversold reading in its history based on the widely followed Relative Strength Index momentum indicator on Dec. 27, following the longest losing streak in more than four years, it ran up $14.08, or 12.9%, over the past three days.

If there’s a bright side to Tuesday’s stock selloff, it’s that even though the price fell below the Dec. 27 closing price, the RSI ended the day at 24.86, which is up from the Dec. 27 record low of 16.56.

That could be a preliminary sign of what chart watchers call “bullish technical divergence,” which is when prices make lower lows while the RSI makes a higher low. It’s still rather early to make that determination, however, as the stock needs to start bouncing again to see if RSI bottoms above the previous low.

Market caps of the Top 20 most valuable S&P 500 companies:

Apple Inc.
AAPL,
-3.74%
: $1.99 trillion.

Microsoft Corp.
MSFT,
-0.10%
: $1.79 trillion.

Alphabet Inc.
GOOGL,
+1.01%

GOOG,
+1.09%
: $1.16 trillion.

Amazon.com Inc.
AMZN,
+2.17%
: $875.51 billion.

Berkshire Hathaway Inc.
BRK.B,
+0.33%

BRK.A,
+0.17%
: $683.72 billion.

UnitedHealth Group Inc.
UNH,
-2.18%
: $484.59 billion.

Johnson & Johnson
JNJ,
+0.87%
: $465.88 billion.

Exxon Mobil Corp.
XOM,
-3.44%
: $438.64 billion.

Visa Inc.
V,
-0.18%
: $427.57 billion.

JPMorgan Chase & Co.
JPM,
+0.76%
: $396.34 billion.

Walmart Inc.
WMT,
+1.28%
: $387.26 billion.

Eli Lilly and Co.
LLY,
-0.23%
: $360.29 billion.

Procter & Gamble Co.: $359.18 billion.

Nvidia Corp.: $352.15 billion.

Tesla Inc.: $341.35 billion.

Chevron Corp: $336.43 billion.

Mastercard Inc.
MA,
-0.27%
: $333.43 billion.

Meta Platforms Inc.
META,
+3.66%
: $331.58 billion.

Home Depot Inc.
HD,
+0.02%
: $321.97 billion.

Pfizer Inc.
PFE,
+0.04%
: $287.74 billion.
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January 3, 2023
Under Armour announces Linnartz as new CEO

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Under Armour Inc.
UA,
+4.48%
on Wednesday said that Stephanie Linnartz would become the company’s chief executive on Feb. 27. Linnartz, currently the president of Marriott International Inc.
MAR,
-1.10%,
will also become the athletic-apparel maker’s president and join its board at that time. Colin Browne, who has been interim president and chief executive since June, will resume his role as chief operating officer when Linnartz comes aboard. Executive Chair Kevin Plank, in a statement, said Linnartz had helped lead the hotel chain’s digital transformation, grew its loyalty program and helped develop partnerships with sports leagues or groups like the NFL and NCAA. Linnartz also sits on the board of home-improvement retailer Home Depot
HD,
+1.44%.
Shares of Under Armour rose 1.6% after hours on Wednesday.

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December 21, 2022
Dow ekes out gain, stocks end higher on signs of easing inflation, but Russia’s war in Ukraine intensifies
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U.S. stocks closed higher Tuesday, but off the session’s best levels, after more data suggested inflation may be slowing and mega-retailer Walmart offered a rosier annual forecast.

The Dow turned negative earlier in the session after the Associated Press reported that Russian missiles crossed into Poland and killed two people, ratcheting up geopolitical tension given Poland is a NATO country.
How stocks traded
- S&P 500 index
  SPX,
  +0.87%
  rose 34.48 points, or 0.9%, to close at 3,991.73.
- Dow Jones Industrial Average
  DJIA,
  +0.17%
  climbed 56.22 points, or 0.2%, ending at 33,592.92, after touching a nearly three-month high of 33,987.06 earlier.
- Nasdaq Composite
  COMP,
  +1.45%
  climbed 162.19 points, or 1.5%, closing at 11,358.41.
On Monday, U.S. stocks finished near session lows after early gains evaporated. The Dow Jones Industrial Average fell 211 points, or 0.6%, while the S&P 500 declined 36 points, or 0.9% and the Nasdaq Composite dropped 226 points, or 2%.

What drove markets

U.S. stocks closed higher Tuesday, after another batch of inflation data showed that whole prices rises were slowing in October for the second straight month.

The Dow’s brief negative turn came after reports that Russian military bombarded Ukraine Tuesday. In the attack, missiles reportedly crossed into Poland, a member of NATO, the Associated Press said, citing a senior U.S. intelligence official.

“Geopolitical concerns obviously are never positive for the market,” said Peter Cardillo, chief market economist at Spartan Capital Securities.

On Tuesday, oil futures settled higher. West Texas Intermediate crude for December delivery rose to $1.05, or 1.2%, reaching $86.92 a barrel.

While markets had started to price in the toll of Russian’s nearly nine-month invasion of Ukraine, it had not priced in an potential escalation of the war, said Kent Engelke, chief economic strategist at Capitol Securities Management.

“Talk about geopolitical angst returning,” Engelke said, later adding, “If there were really missiles shot to Poland and that was really not an accident, wow, that is really increasing the scope of the war.”

A U.S. National Security Council spokesperson said the agency was aware of the news reports out of Poland, but that it cannot confirm the reports or any details at this time.

While international worries clouded the session, there was also encouraging domestic news.

The U.S. producer-price index climbed 8% over the 12 months through October, the Labor Department said Tuesday, easing from September’s revised 8.4% increase. Last week, stocks surged after the October consumer-price index rose more slowly than expected.

See: Wholesale prices rise slowly again and point to softening U.S. inflation

Tuesday’s PPI report helped support the notion that inflation has peaked, at least for now.

“Today, it’s really about the PPI and the market reaction to it,” Steve Sosnick, chief strategist at Interactive Brokers
IBKR,
+3.45%,
said in a Tuesday morning interview before the reports of missiles crossing into Poland.

Markets ripped higher last Thursday after October’s consumer-price index showed signs of easing. The same dynamic was playing out Tuesday, but the response now has been “a bit more muted” because it’s an iteration on inflation data that investors already had been starting to see, Sosnick said.

So, is the economy really at peak inflation? It’s too early to say for sure, according to Sosnick. Still, the PPI numbers, paired with last week’s CPI reading “does add evidence to that narrative,” he added.

Walmart’s third quarter earnings also were buoying markets, Sosnick said. The massive retailer’s beat on earnings offers a glimpse at the minds and wallets of many American consumers. For anyone who worries about consumers “getting highly defensive” and not spending, Walmart’s numbers are “counter evidence.”

In other news, the first face-to-face meeting between President Joe Biden and President Xi Jinping helped support stocks listed in China and Hong Kong, as some of the tensions between the world’s two largest economies were seen to be easing.

The upbeat tone from Asia, which included Taiwan Semiconductor Manufacturing Company
TSM,
+10.52%
jumping 7.7% on news Warren Buffett had bought a $5 billion stake, underpinned European bourses, which closed higher for a fourth session in a row.

Read also: Warren Buffett’s chip-stock purchase is a classic example of why you want to be ‘greedy only when others are fearful’

Analysts increasingly expect stocks to enjoy a positive end to the year. “The near-term picture still looks positive for U.S. benchmark indices and while momentum has reached intra-day overbought levels, this doesn’t imply a selloff has to happen right away,” said Mark Newton, head of technical strategy at Fundstrat.

Philadelphia Federal Reserve President Patrick Harker said Tuesday that he favored a 50 basis-point hike to the Fed’s benchmark rate in December. Atlanta Fed President Raphael Bostic said more rate hikes will be needed, even through there have been “glimmers of hope” on inflation.

Fed Vice Chairman for Supervision Michael Barr said Tuesday that the U.S. economy is likely to slow in coming months, and more workers will lose their jobs, in Senate testimony. The Fed is working with regulators to assess risks tied to cryptocurrency markets, following the collapse of FTX and its associated companies.

In other U.S. economic data, the New York Empire State manufacturing index for November showed a gauge of manufacturing activity in the state rose 13.6 points to 4.5 this month.

The yield on the 10-year Treasury note
TMUBMUSD10Y,
3.774%
was down 6.7 basis points at 3.798%. Bond yields move inversely to prices.

Companies in focus
- Walmart
  WMT,
  +6.54%
  shares jumped after the giant retailer swung to a net third-quarter loss, due to $3.3 billion in charges related to opioid legal settlements, but reported adjusted profit, revenue and same-store sales that were well above expectations and a full-year outlook that was above forecasts. Walmart shares opened Tuesday at $145.61 and closed at $147.48, or 6.57% higher.
- Home Depot
  HD,
  +1.63%
  rose after the home improvement retailer reported fiscal third-quarter earnings that beat expectations, citing strength in project-related categories, but kept its full-year outlook intact. Home Depot shares opened Tuesday at $304.06 and closed at $311.99.
- Chinese-listed technology traded sharply higher on Tuesday, including U.S.-traded ADRs for Alibaba Group Holding
  BABA,
  +11.17%,
  Baidu Inc.
  BIDU,
  +9.02%
  and JD.com Inc.
  JD,
  +7.14%
  The KraneShares CSI China Internet exchange-traded fund
  KWEB,
  +9.56%
  also traded substantially higher.
—Jamie Chisholm contributed reporting to this article
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November 15, 2022
Home Depot Earnings Top Estimates. Customers Are ‘Resilient,’ CFO Says.

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Home Depot

third-quarter earnings results beat expectations, giving the stock a boost on Tuesday.

The home-improvement retailer reported third-quarter earnings of $4.24 a share, topping analysts’ projections of $4.12 a share. Revenue came in at $38.9 billion, up 5.6% from a year earlier and topping estimates for $38 billion. Same-store sales rose 4.3%, ahead of estimates for 3.1%. U.S. same-store sales rose 4.5%.

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November 15, 2022
HD Stock Price | Home Depot Inc. Stock Quote (U.S.: NYSE) | MarketWatch

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Home Depot Delivers Robust Q3

Home improvement retailer Home Depot (NYSE:HD) has reported better than expected third-quarter numbers on the top line as well as bottom line fronts. Revenue rose 5.6% year-over-year to $38.87 billion, surpassing expectati…

Nov. 15, 2022 at 10:01 a.m. ET

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November 15, 2022
Home Depot Sales Up 5.6% in Third Quarter
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Business

Earnings

Home-improvement retailer logs sales increase even as it again records fewer transactions
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November 15, 2022