Jim Cramer is at Dreamforce in California this week, so Jeff Marks, senior portfolio analyst with Action Alerts PLUS, is joining TheStreet on the floor of the New York Stock Exchange.
Home Depot Earnings
Real Money Stock of the Day Home Depot posted modestly stronger-than-expected third-quarter earnings Tuesday but trimmed its full-year sales guidance as the world's biggest home improvement retailer said some of its investments won't pay off until 2020, reported TheStreet's Martin Baccardax.
Home Depot said earnings for the three months ending on November 3 came in at $2.53 per share, around a penny ahead of the Street consensus forecast. Group revenues, Home Depot said, rose 3.4% from the same period last year to $27.2 billion, a figure that fell shy of analysts' forecasts of a $27.528 billion tally. Same-store sales, too, missed estimates, rising 3.8% compared to consensus of 4.7%.
Are these earnings a sign that Home Depot is just not the bellwether that it used to be?
TJX reported third-quarter earnings of $828.3 million, or 68 cents a share, vs. $739.6 million, or 63 cents a share, in the year-ago. Analysts polled by FactSet had been expecting earnings of 66 cents a share.
Sales came in at $10.45 billion, above sales of $9.8 billion a year ago and above analysts' estimates of $10.32 billion. Same-store sales, a key metric in retail, gained 4% during the quarter, the company said.
Bull Market Fantasy: LIVE TUESDAY & THURSDAY @10:45AM
Catch Up: Today's Top News Videos Below