PRE-MARKET MOVERS: Home Depot shares climb as DIY group benefits from warmer summer; Advance Auto Parts also revs up
Brinker International and The Coca-Cola Co were also in focus in pre-market deals Tuesday.
Company
NYSE:HD
Home Depot Inc is a home improvement retailer. The company offers its customers an assortment of building materials, home improvement products, lawn and garden products, decor products, and facilities maintenance, repair and operations products and provides a number of services, including home improvement installation services and tool and equipment rental. It operates over 2,322 stores located throughout the United States, including the Commonwealth of Puerto Rico and the territories of the United States Virgin Islands and Guam; Canada and Mexico.
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Brinker International and The Coca-Cola Co were also in focus in pre-market deals Tuesday.
US futures are pointing to a lower open on Thursday after closing higher yesterday
Net sales for the three months were up 4.4% to US$24.95bn but analyst consensus was for revenue of US$25.15bn
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Home improvement retailers are benefitting as Americans renovate their homes at a record pace, but it seems Lowe’s rival Home Depot is getting the biggest boost
Proactive takes a look at the market ahead of the New York bell
A look at the pre-market trade in New York , where the Davita Inc, UnitedHealth Group In c is gaining attention
The home improvement retailer said the stock repurchase program, which replaces its previous authorization, includes an intention to buy an additional US$2.1bn worth of shares in the fourth quarter
Revenue from Hurricanes Harvey and Irma added around US$282 million to the sales total for the third quarter
A share riser in pre-market was Advance Auto Parts Inc, which saw shares rise over 13% to US$93.50 each
Despite the vibrant US housing market, Lowe’s earnings and sales fell short of Wall Street expectations
US shares started the midweek session and ended it heading north
“We were pleased with our results this quarter as our customers rewarded us with the highest quarterly sales in company history”
What's moving the dial in pre-market deals in New York? Proactive takes a look
Craig Menear, chief executive, said growth had been broad–based and in all geographies.
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Six US stock indices closed near their intraday record highs on Tuesday as retail sector earnings and growing expectations that Fed interest rates could be hiked again as soon as next month buoyed banks
Home Depot's quarterly results have impressed with earnings and revenue both ahead of consensus forecasts
On the last full day’s trading before the Christmas holiday, US stocks ended lower on Thursday as markets began to wind down