Home Depot takes it to the house
Jon "DRJ" Najarian | [email protected]
Strong Quarter Lifts Outlook
The home-improvement giant this morning reported second-quarter earnings of $1.24 per share, above the consensus forecast of $1.21 EPS. The company posted revenues of $22.52 billion, surpassing the $21.79 billion that analysts had been looking for. Home Depot also raised its full-year guidance to $3.60 per share with a 4.5 percent rise in revenues, compared with its previous expectation of $3.52 EPS and a 2.8 percent revenue gain. HD is up nearly 3 percent to $77.36.
Best Buy Surges on Earnings
The electronics retailer announced adjusted earnings of $0.32 per share for the second quarter, blowing past the consensus expectation of $0.12 EPS. Revenues came in at $9.3 billion, above the estimated $9.13 billion. The bottom-line results have been attributed to broad cost-cutting measures. BBY is up more than 10 percent to $33.85 in the pre-market.
J.C. Penney Up Despite Report
The ailing department-store retailer reported a quarterly loss of $1.17 per share, wider than the $1.06 loss expected by most analysts. Revenues came in at $2.26 billion, below the consensus forecast of $2.76 billion. Shares are higher in spite of these apparently weak numbers, partly because sentiment on the stock has been so poor. JCP is up 3.25 percent to $13.65 this morning.
Urban Outfitters Sizes Up Well
The apparel company posted earnings of $0.51 per share in its second-quarter report after yesterday's close, well above the $0.48 EPS that analysts had forecast. Revenues came in at $758.5 million, short of the estimated $768.4 million. URBN is up more than 9.5 percent to $43.75 on my tradeMONSTER extended-hours platform
Not All Is Rosy in Perfect World
The Chinese game developer reported adjusted of $0.33 per share for the second quarter, beating the consensus forecast of $0.29 EPS. Perfect World also said revenues totaled $115.4 million, above the $109.01 million expected by analysts. But those results apparently weren't enough to satisfy traders as operating expenses rose 19 percent year over year, fueled by increased marketing budgets. PWRD is down 2.5 percent to $20.10.