Home Depot reported net earnings of $1 billion, or 68 cents a share, for the fourth quarter, up from $774 million, or 50 cents a share, a year ago. The company earned 67 cents a share on an adjusted basis, beating analysts' earnings expectations of 64 cents a share.
Sales rose to $18.9 billion, exceeding analysts' expectations of $17.7 billion.
Home Depot also raised its quarterly dividend to 39 cents a share, a 34% boost, and announced a $17 billion stock repurchase program.The results come one day after Home Depot's biggest competitor, Lowe's (LOW), reported less impressive earnings.
Goldman Sachs (GS) is trending as former director Rajat Gupta has been ordered to repay the company over $6.2 million. Gupta is currently appealing his insider trading conviction and two-year prison term. The former global managing director of consulting firm McKinsey & Co. was found guilty of leaking confidential information at the height of the financial crisis in 2008. A federal judge has now ordered Gupta to pay the fee to help Goldman cover its legal expenses in the case. The amount is 90% of what Goldman has sought to recover -- a total of $6.91 million. Gupta was found guilty of leaking information he obtained at Goldman Sachs' board meetings to Raj Rajaratnam, former billionaire and Galleon Group hedge fund manager. Rajaratnam is currently appealing his 11-year prison term and criminal conviction.
Macy's (M) is another popular search. The retailer reported fourth-quarter earnings that beat analysts' estimates. Macy's reported earnings of $2.05 per share excluding items, exceeding expectations of $1.99 per share. Revenue totaled $9.35 billion, beating expectations of $9.3 billion. The company attributed the higher results to stronger sales driven by merchandise tailored to local markets.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV