In the news: Home Depot beats, Goldman and Libya to go to court and more

Tuesday headlines include better-than-expected earnings from Home Depot, Goldman Sachs being sued by Libya's sovereign wealth fund, markets and analysts reacting to BHP Billiton's spin-off announcement, an outage at Microsoft's Azure cloud service and Bank of America losing a COO.

Home Depot

Home-improvement retailer Home Depot ( HD ) said Tuesday that it earned $1.52 per share in the quarter ended Aug. 3. Analysts had expected the company to earn $1.44 per share. Revenue was $23.81 billion, topping estimates for $23.57 billion. Same-store sales rose by 5.8 percent globally and 6.4 percent in the U.S. Home Depot expects to earn $4.52 per share in fiscal 2014, compared to a priot forecast for $4.42 per share. Analyst had been forecasting $4.41 per share.

Goldman Sachs

Investment bank Goldman Sachs ( GS ) will face off with Libya's sovereign wealth fund in a London court room over claims that the bank wrongly encouraged the fund to make more than $1 billion in trades that ended up going bad. The case is set for trial in October after Goldman withdrew a request to have the case thrown out without going to trial after seeing the Libyan Investment Authority's evidence.

BHP Billiton

Mining concern BHP Billiton's ( BHP ) plan to spin off some assets was largely lauded by analysts, many of whom said the market's negative reaction was likely due to the company's decision not to announce a special dividend or share repurchase program. The company is close to its target of $25 billion in net debt, which is the level it said it would like to reach before it started returning capital to shareholders, but the company has also said it wants capital returns to be made in a consistent and sustainable way.


Azure, Microsoft's ( MSFT ) cloud platform, suffered an hours-long outage across multiple regions on Monday. The company said only a small subset of customers were affected, but the outage was reportedly due to issues at multiple data centers.

Bank of America

Financial giant Bank of America ( BAC ) is down to one chief operating officer, Thomas Montag, after co-COO David Darnell asked to be re-located to Florida. Darnell will serve as vice chairman and will continue his oversight of global wealth and investment management and business banking.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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