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Home Depot on Tuesday raised its yearly outlook and posted better-than-anticipated same-store sales figures in a quarter that was “marked by week-to-week demand spikes caused by weather variability.” The home improvement retailer said first-quarter net profit were $1.8 billion, or $1.44 share, compared with $1.58 billion, or $1.21 a share, a year ago. Analysts polled by FactSet expected $1.35 a share. Sales rose to $22.76 billion from $20.89 billion in the same period last year. Wall Street had pegged sales at $22.38 billion. Home Depot said quarterly U.S. same-store rose 7.4%, above expectations of a 5.2% increase. The company now expects fiscal 2016 per-share earnings to rise 14.8% to $6.27, ahead of the FactSet consensus of $6.22 a share. It also lifted its fiscal 2016 sales view, foreseeing a same-store sales rise of 4.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Home Depot on Tuesday raised its yearly outlook and posted better-than-anticipated same-store sales figures in a quarter that was “marked by week-to-week demand spikes caused by weather variability.” The home improvement retailer said first-quarter net profit were $1.8 billion, or $1.44 share, compared with $1.58 billion, or $1.21 a share, a year ago. Analysts polled by FactSet expected $1.35 a share. Sales rose to $22.76 billion from $20.89 billion in the same period last year. Wall Street had pegged sales at $22.38 billion. Home Depot said quarterly U.S. same-store rose 7.4%, above expectations of a 5.2% increase. The company now expects fiscal 2016 per-share earnings to rise 14.8% to $6.27, ahead of the FactSet consensus of $6.22 a share. It also lifted its fiscal 2016 sales view, foreseeing a same-store sales rise of 4.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Hedge-fund manager James Paulson shed some positions in healthcare stocks while taking a few new positions in tech, according to a Securities and Exchange Commission filing late Monday. Paulson & Co. eliminated its stake in AbbVie Inc. , while increasing its position in Pfizer inc. . Paulson also lowered its stake in Starwood Hotels and Resorts Worldwide Inc. , and created a new stake in Activision Blizzard Inc. and a small position in Facebook Inc.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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From:: Stock Market News

Hedge-fund manager James Paulson shed positions in healthcare stocks while taking a few new positions in tech, according to a Securities and Exchange Commission filing late Monday. Paulson & Co. substantially reduced its stakes in Allergan PLC, and Valeant Pharmaceuticals International Inc. , while eliminating its stake in AbbVie Inc. . Paulson also lowered its stake in Starwood Hotels and Resorts Worldwide Inc. , and created a new stake in Activision Blizzard Inc. and a small position in Facebook Inc.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News