Toward the end of trading Tuesday, the Dow traded up 0.47
percent to 15,407.31, while the NASDAQ rose 0.28 percent to
3,506.98. The S&P was also up, gaining 0.30 percent to
Top Headline Home Depot (NYSE:
) reported an 18.5% increase in its Q1 earnings and lifted its
2013 earnings forecast.
Home Depot's quarterly profit surged to $1.2 billion, or $0.83
per share, versus $1 billion, or $0.68 per share, in the year-ago
Its net sales climbed 7.4% to $19.1 billion from $17.8
billion, while comparable-store sales rose 4.3%. However,
analysts were estimating earnings of $0.76 per share on revenue
of $18.53 billion. Home Depot now projects 2013 EPS to rise
around 17% to $3.52.
Equities Trading UP Saks (NYSE:
) has been on the rise all day, gaining 9.94 percent to $13.50
after the company reported first quarter results in line with
expectations while releasing some strong guidance.
Shares of Opentable (NASDAQ:
) were up as well, rising 8.62 percent to $69.64 following the
merger between GrubHub and Seamless.
Monro Muffler Brake (NASDAQ:
) got a boost, shooting up 8.25 percent to $47.75 on some strong
Equities Trading DOWN iGATE (NASDAQ:
) was down, falling 10.12 percent to $14.74, after the company
terminated the employment of CEO Phaneesh Murthy.
Carnival plc (NYSE:
) shares tumbled 5.45 percent to $34.87 after the company lowered
its earnings forecast.
Beazer Homes USA (NYSE:
) was down 3.10 percent to $22.03 after analysts at Sterne Agee
downgraded the stock from "buy" to "neutral."
Commodities In commodity news, oil traded down 0.87 percent to
$96.07, while gold dropped 0.75 percent to $1,373.80.
Silver traded down 1.05 percent Tuesday to $22.35, while
copper fell 0.65 percent to $3.34.
Eurozone European shares were mostly lower overnight as
investors prepare for key Federal Reserve comments on Wednesday.
The Spanish Ibex Index fell 0.87 percent and the Italian FTSE MIB
Index dropped 0.45 percent. Meanwhile, the German DAX fell 0.11
percent and the French CAC 40 rose 0.05 percent while U.K. shares
added 0.42 percent.
Economics The ICSC/Goldman Sachs Retail Chain Store Sales
Index rose 0.2% in the week ended Saturday versus the previous
National chain store sales climbed 0.5% in the first two weeks
of May versus April, according to the latest Redbook survey
New York Federal Reserve Bank President William Dudley is set
to speak today.
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