Here Are 3 Hot Things to Know About Stocks Right Now
- The S&P 500
rose for the first time in five sessions on Tuesday
- Home Depot Inc. (HD edged lower after beating earnings estimates and raising full-year sales guidance.
- Tesla Inc.'s (TSLA board has formed a special committee to evaluate a potential take-private deal.
Wall Street Overview
Stocks on Wall Street posted solid gains on Tuesday, Aug. 14, amid a stabilization in Turkey's currency crisis.
The Dow Jones Industrial Average
Turkey's lira, which has been at the center of a one-week currency crisis that has rippled through financial markets all over the world, gained around 3% against the U.S. dollar in overnight trading. Indications were that moves by Turkey's central bank to stem the lira's decline likely will hold the currency in place while President Recep Tayyip Erdogan negotiates the potential release of the American evangelical pastor Andrew Brunson, whom Ankara has accused of being involved in a failed 2016 coup.
Home Depot Inc. (HD reported second-quarter earnings of $3.05 a share, beating forecasts of $2.85, and the home-improvement giant raised its full-year forecast for revenue and same-store sales. The stock slipped 0.01% on Tuesday.
What Jim Cramer is thinking off the Home Depot numbers.
Musk tweeted on Monday night:
I'm excited to work with Silver Lake and Goldman Sachs as financial advisors, plus Wachtell, Lipton, Rosen & Katz and Munger, Tolles & Olson as legal advisors, on the proposal to take Tesla private— Elon Musk (@elonmusk) August 14, 2018
Coca-Cola said the deal is structured in a way that allows it to increase its ownership percentage in the future. Coke shares rose 0.1%.
Billionaire activist investor Carl Icahn said he no longer plans to solicit votes from Cigna Corp. (CI shareholders against the health insurer's $54 billion deal to buy Express Scripts Holding Co. (ESRX after two proxy-advisory firms recommended shareholders support the deal.
Cigna shares rose 2%, while Express Scripts was up 2.4%.
Advance Auto Parts Inc. (AAP rose 7.8% after second-quarter sales and earnings beat analysts' forecasts.
Tapestry Inc. (TPR , which owns the Coach and Kate Spade brands, jumped 12% on Tuesday its fiscal fourth-quarter earnings and sales topped analysts' expectations.
Tapestry CEO Victor Luis told TheStreet's Executive Editor Brian Sozzi he remains bullish on the year ahead.