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August 19, 2014
11:41 EDTLOW, HDHome Depot rises as results beat estimates, company raises guidance
Shares of home improvement retailer The Home Depot (HD) are advancing after the company posted better than expected second quarter results and raised its full year profit outlook. WHAT'S NEW: This morning, Home Depot reported Q2 earnings per share of $1.52 and revenue of $23.81B, beating analysts' consensus estimates of $1.45 and $23.61B, respectively. Q2 same store sales increased 5.8% and comp sales for U.S. stores rose 6.4%. Chairman and Chief Executive Officer Frank Blake said the spring seasonal business rebounded in Q2, and the company saw strong performance across all of its geographies and in the core of the store. Looking ahead, Home Depot raised its fiscal 2014 EPS view to $4.52 from $4.42, in line with analysts' estimates of $4.41. The EPS guidance includes the benefit of year-to-date share repurchases of $3.5B and the company's intent to repurchase an additional $3.5B of shares over the remainder of the year. The retailer also reiterated its outlook for FY14 sales to increase 4.8%, compared to consensus estimates of $82.53B. WHAT'S NOTABLE: On its Q2 earnings conference call, management forecast FY14 gross margin up "a few" basis points from FY13. The company said the housing market remains a modest tailwind for its business, but cited "mixed signals" in housing data. The company said its sales plan remains "intact," and it anticipates rolling out hand-held checkout devices in Q3. For the second half of 2014, Home Depot expects SSS growth about 80 basis points higher than the first half, with the fourth quarter higher than the third quarter, but slightly under what was reported for Q2. Home Depot said it is "very pleased" with August's sales performance. ANALYST REACTION: This morning, research firm RW Baird said Home Depot's Q2 results reinforces its positive thesis as the company cycled through its toughest quarterly comparison in years. PRICE ACTION: In late morning trading, Home Depot rose $4.89, or about 5.74%, to $88.37 on heavy trading volume. Including today's advance, the stock is up over 17% over the past 12 months. OTHERS TO WATCH: Home Depot peer Lowe's Companies (LOW), which reports quarterly earnings tomorrow, is trading up 2.3% to $51.61.
News For HD;LOW From The Last 14 Days
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November 17, 2015
15:14 EDTLOWLowe's November 72.5 straddle priced for 4.4% movement into Q3
15:13 EDTLOWNotable companies reporting before tomorrow's open
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13:53 EDTHD, LOWEarnings Watch: Lowe's up about 2% over last three months
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12:46 EDTHDOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday after better than expected earnings from Wal-Mart (WMT) and Home Depot (HD) helped the Dow build on yesterday's gains. The market also received a boost from an in-line consumer prices report, which may give the Fed the ammunition it needs to begin to raising interest rates from their record-low levels. ECONOMIC EVENTS: In the U.S., the consumer price index rose 0.2% in October, as expected. When food and energy prices are stripped out, the "core" CPI also rose 0.2%, also matching the consensus forecast. Industrial production slid 0.2% in October, versus expectations for it to have risen 0.1%. Capacity utilization came in as expected at 77.5%. NAHB's home builder sentiment index fell 3 points to 62 in November, versus expectations for a reading of 64. COMPANY NEWS: Shares of Wal-Mart advanced nearly 5% after the world's largest retailer reported better than expected quarterly earnings and gave a fiscal year profit outlook that was higher than expected at the midpoint of the company's range. As part of its report, Wal-Mart noted that comp sales at Walmart U.S. rose 1.5% in the quarter compared to last year, marking the fifth consecutive quarter of positive comparable sales growth. Another retail giant and fellow Dow member, Home Depot, gained more than 3.5%. Missing out on the retail rally, however, was Dick's Sporting Good (DKS), which tumbled over 9.5% after giving guidance for the fourth quarter and fiscal 2015 that both missed consensus estimates. MAJOR MOVERS: Among the notable gainers was Nuance (NUAN), which rallied 17% after analysts raised their price targets on the company's stock following upbeat fourth quarter earnings. Also higher was TJX (TJX), which gained 4% after reporting quarterly earnings and guiding for the fourth quarter and fiscal 2016. Among the notable losers was SunEdison (SUNE), which fell 21% after Deutsche Bank lowered its price target on the company's shares to $16 from $28. Also lower was Urban Outfitters (URBN), which fell 8% after no fewer than three analyst downgraded the company's shares following its Q3 earnings report. INDEXES: Near midday, the Dow was up 39.99, or 0.23%, to 17,523.00, the Nasdaq was up 17.91, or 0.36%, to 5,002.53, and the S&P 500 was up 3.54, or 0.17%, to 2,056.73.
09:35 EDTHDActive equity options trading on open: AAPL FB GE HD
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09:22 EDTHDHome Depot sees FY15 gross margin unchanged from FY14
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09:15 EDTHDOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Nuance (NUAN), up 9.1%... Cheetah Mobile (CMCM), up 7.7%... Eros International (EROS), up 12.8%... Home Depot (HD), up 3.1%...Wal-Mart (WMT), up 2.2%. ALSO HIGHER: Ocera Therapeutics (OCRX), up 14.8% after announcing Phase 1 study results for the company's oral formulation of OCR-002... Fitbit (FIT), up 2.4% after being upgraded to Buy from Neutral at BofA/Merrill. DOWN AFTER EARNINGS: Dicks Sporting Goods (DKS), down 15.4%... Urban Outfitters (URBN), down 12.8%. ALSO LOWER: Osiris Therapeutics (OSIR), up 25.5% after being downgraded to Sell from Hold at Brean Capital... Angie's List (ANGI), down 8.7% after board unanimously determines not to pursue IAC (IACI) proposal... Clovis Oncology (CLVS), down 4.1% after receiving downgrades from Goldman and WallachBeth... Chesapeake Energy (CHK), down 2.5% after being downgraded to Neutral from Buy at Sterne Agee CRT... Cooper Companies (COO), down 2% after being downgraded to Market Perform from Outperform at Wells Fargo.
09:11 EDTHDHome Depot sees positive signs in housing market despite moderating US GDP
The company said sales guidance is boosted by a strong dollar. Excluding ForEx, sales growth was negatively impacted by $1B. Expects a strong U.S. dollar in Q4. Comments taken from Q3 earnings conference call.
07:02 EDTLOWLowe's volatility increases into Q3 and outlook
Lowe's November call option implied volatility is at 67, December is at 31, January is at 27; compared to its 52-week range of 16 to 33, suggesting large near term price movement into the expected release of Q3 results on November 18.
06:03 EDTHDHome Depot sees FY15 EPS $5.36, consensus $5.31
Sees FY15 sales growth of 5.7%, consensus $87.74B. The FY15 EPS includes benefit of its intent to repurchase additional $2B of shares in Q4, bringing total 2015 share repurchases to $7B.
06:02 EDTHDHome Depot reports Q3 EPS excluding items $1.36, consensus $1.32
Reports Q3 revenue $21.82B, consensus $21.76B. Reports Q3 comparable store sales up 5.1%. Reports Q3 US comparable store sales up 7.3%.
05:24 EDTHDStocks with implied volatility above IV index mean; CRM HD
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November 16, 2015
15:02 EDTHDNotable companies reporting before tomorrow's open
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14:44 EDTHDHome Depot volatility increases into Q3 and outlook
Home Depot November call option implied volatility is at 45, December is at 27; compared to its 52-week range of 16 to 32, suggesting large near term price movement into the expected release of Q3 results on November 17.
14:38 EDTHDHome Depot November 120 straddle priced for 4.4% movement into Q3
14:28 EDTHDHome Depot technical notes ahead of earnings
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10:40 EDTHDEarnings Watch: Home Depot reports following recent rout among retailers
Home Depot (HD), a home improvement retailer, is scheduled to report third quarter results before the market opens on Tuesday, November 17, with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of $1.32 on revenue of $21.76B, according to First Call. The consensus range for EPS is $1.28-$1.37 on revenue of $21.16B-$22B. LAST QUARTER: On August 18, Home Depot reported second quarter adjusted EPS of $1.71 on revenue of $24.83B, generally in line with analysts' consensus estimates of $1.71 and $24.69B, respectively. The company said same-store sales increased 4.2% year-over-year, with U.S. SSS up 5.7%. The company raised its fiscal year 2015 EPS growth view to 13% from 11%-12% and its FY15 revenue growth forecast to 5.2%-6% from 4%-4.6%. The company previously raised its FY15 EPS growth view to 11%-12% and revenue growth view to 4.2%-4.8% from 3.5%-4.7%. Home Depot also said it sees FY15 SSS to be up 4.1%-4.9% y/y, an increase from its prior view of 4%-4.6% growth. Home Depot said at the time that it expected to repurchase an additional $3.9B of shares during the remainder of the year for a total of $7B. NEWS: On its last earnings conference call, Home Depot said the increased guidance reflects the outperformance of Q2 and the expected benefits of the Interline Brands acquisition. The company also noted that it will tap the long-term debt markets in the fall. During the quarter, Home Depot completed the $1.63B acquisition of Interline. STREET RESEARCH: UBS raised its price target on Home Depot to $138 from $129 on the day after its last earnings release, saying it sees several factors that could drive upside, including the addition of the Interline platform and system enhancements. PRICE ACTION: Last week, while retailers Macy's (M), Nordstrom (JWN) and numerous others in the space reported worse than expected quarterly results and gave downbeat guidance, Home Depot shares declined about 4.7%. Over the last three months, Home Depot shares are up about 1%. In early trading ahead of Tuesday's earnings, shares in Home Depot slipped about 0.25% to $119.74.
05:28 EDTHDStocks with implied volatility movement; HD ETP
Stocks with implied volatility movement; Home Depot (HD) 26, Energy Transfer Partners (ETP) 49 according to iVolatility.
November 13, 2015
13:46 EDTLOWLowe's volatility elevated into Q3 and outlook
Lowe's November call option implied volatility is at 47, December is at 29, January is at 25; compared to its 52-week range of 16 to 33, suggesting large near term price movement into the expected release of Q3 results on November 18.
November 11, 2015
12:51 EDTHDHome Depot volatility elevated into Q3 and outlook
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