Stocks were falling sharply Tuesday after disappointing guidance from retail giants Home Depot and Walmart, and as Wall Street remains concerned the Federal Reserve could leave interest rates higher for longer because of sticky inflation.
These stocks were making moves Tuesday:
Home-improvement giant Home Depot (ticker: HD) reported fourth-quarter earnings of $3.30 a share, beating analysts’ estimates by 2 cents. Sales rose 0.3% in the quarter to $35.8 billion but missed forecasts.
said it expects fiscal 2023 sales flat compared with fiscal 2022. The stock fell 6.1%.
Home Depot competitor
(LOW) dropped 4.9%. The company is expected to report earnings on March 1.
Walmart (WMT) shares gained 0.6% after the world’s largest retailer reported fourth-quarter adjusted earnings that beat analysts’ estimates and issued earnings guidance for fiscal 2024 below expectations.
(NDSN) was the leading decliner in the S&P 500 on Tuesday. The stock declined more than 13% after the company’s fiscal first-quarter earnings and sales missed analysts’ estimates.
(DDS) was down 10.5% even after the department-store chain reported a 5% increase in total retail sales year over year.
(VIR) jumped 8.6% after the stock was upgraded to Buy from Neutral by analysts at Goldman Sachs.
(GNRC) declined 6.2%. The stock was downgraded to Hold from Buy at
and downgraded to Neutral from Buy at Janney Montgomery following a sharp increase in the stock price.
(AN) fell 6.9% after the stock was downgraded to Underweight from Neutral at J.P. Morgan. The stock rose more than 11% on Friday after the car seller reported fourth-quarter earnings that beat analysts’ expectations.
Molson Coors Beverage
(TAP) jumped 4.4% after the beer brewer posted fourth-quarter earnings per share that beat expectations.
Companies reporting results after the closing bell Tuesday include
Palo Alto Networks
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