Okay, there's a lot to break down Tuesday morning.
Home Depot's Whiff
Real Money's Stock of the Day Home Depot (HD) - Get Report posted weaker-than-expected fourth quarter earnings Tuesday, thanks in part to a $247 million charge linked to Interline brands division while forecast slower 2019 profit growth.
Home Depot said earnings for the three months ending in January, the company's fiscal fourth quarter, came in at $2.09 per share, up 37.5% from the same period last year but just shy of the Street consensus of $2.16 per share. Group revenues rose 10.9% to $26.5 billion but again missing the consensus estimate. Home Depot said it took a 16 cent charge against its quarter earnings linked to its Interline Brands division, which it acquired in 2015.
Macy's Hot Take
"As an initial step in this productivity plan, the company has announced a restructuring that reduces the complexity of the upper management structure to increase the speed of decision making, reduce costs and respond to changing customer expectations," Macy's said.
Round Two: Elon Musk vs. SEC
The Securities and Exchanges Commission asked a Federal court Monday evening to hold Elon Musk, CEO of Tesla (TSLA) - Get Report , in contempt for violating his agreement with the Commission on his use of social media.
The SEC said Musk's Tweet from earlier this month, in which he appeared to reveal material information on Tesla's production schedule, violated a September 2018 settlement that prohibited Musk from sharing company information without vetting from legal counsel. The settlement itself, reached through U.S. District Judge Alison Nathan, was linked to an August 2018 Tweet by Musk over plans to take the clean-energy carmaker private that the SEC said was misleading to investors.
Of course, Musk then took to Twitter to say that "something is broken with SEC oversight."
And so the drama continues...
Amazon Taps Indra Nooyi to Join the Board
According to Amazon's SEC filing, Nooyi will also be joining the Audit Committee of the board.
Nikki Haley Could Take Flight With Boeing
Haley resigned from her role as the ambassador back in December.