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Tuesday, May 16, 2017

Stocks to Watch: Home Depot, Dick’s Sporting Goods, H&R Block

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Among the companies with shares expected to trade actively in Tuesday’s session are Home Depot Inc., Dick’s Sporting Goods Inc. and H&R Block Inc.

Home Depot Inc. posted sales and profit growth in its first quarter, as the housing market continues to grow. Shares rose 1.13% to $159.10 in premarket trading.

Dick’s Sporting Goods Inc. posted sluggish same-store sales growth in the first quarter, with adjusted EPS at the high end of guidance and revenue just below Wall Street estimates. Shares fell 12.09% to $41.82 premarket.

Tax preparer H&R Block Inc. said Tuesday that Chief Executive Bill Cobb was slated to step down in July and be replaced on an interim basis by Chief Administrative Officer Tom Gerke. Shares fell 2.95% to $26.00 premarket.

Yahoo Inc. will buy back up to $3 billion of its common stock through a modified Dutch Auction ahead of its proposed deal with Verizon Communications Inc. Shares rose 0.66% to $50.19 premarket.

Staples Inc. reported earnings of 16 cents a share on sales of $4.15 billion in the first quarter. Shares rose 0.86% to $9.40 premarket.

Shares of Ford Motor Co. traded 0.9% higher premarket following news the auto maker is planning substantial cuts to its global workforce amid a drive to boost profits and address Ford’s sliding stock price.

TJX Cos. fell 5.3% premarket after the retailer reported a first-quarter sales miss, and gave second-quarter guidance below expectations.

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Snap Inc. gained 1.6% premarket after billionaire investor George Soros’s hedge fund disclosed a stake in the Snapchat parent, and Etsy advanced 10% in thin premarket trading in the wake of disclosures by two private-equity firms that they’d taken stakes in the online marketplace for handmade products.

Tesla Inc. was 0.3% higher premarket following news that Lyndon Rive, head of the SolarCity business, will leave Tesla next month, less than a year after the solar-power outfit was acquired by the maker of electric cars.

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May 16, 2017 at 06:25PM

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from Chris Wack

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