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MarketWatch MarketPulseNov 19, 2019
Home Depot earnings the most disappointing for investors since the financial crisis
Shares of Home Depot Inc. sank 4.9% in morning trading Tuesday, which puts them on track to suffer the biggest one-day post-earnings decline in over 10 years. Earlier, the home improvement retailer beat fiscal third-quarter profit expectations but missed on total and same-store sales, and lowered its full-year outlook. The last time the stock fell as much on the day after earnings was May 19, 2009, when the stock dropped 5.3% after fiscal first-quarter 2019 results. Since then, the most disappointing earnings report before Tuesday was Q2 2017 results on Aug. 15, 2017, when the stock fell 2.7%. The stock's $11.60 price decline on Tuesday was shaving about 79 points off the Dow Jones Industrial Average's price, which was down 19%. Home Depot's stock, which closed at a record high on Monday, has rallied 32.3% year to date, while the Dow Jones Industrial Average has gained 20.1%.

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.



RELATED ARTICLES
Home Depot cuts sales goal as online push not delivering as expected (Reuters Business)
UPDATE 2-Home Depot cuts sales goal as online push not delivering as expected (Reuters Company News)

Yahoo BusinessNov 19, 2019
Kohl's Plunges Most in Almost Three Years on Profit Forecast
(Bloomberg) -- Kohl's Corp. fell the most in almost three years after posting quarterly sales that trailed analysts' projections. The retailer also cut its full-year profit forecast for a second time this year, exacerbating concerns about department stores.Same-store sales, a key metric for retailers, increased 0.4% in the third quarter, compared with the 0.8% growth seen by analysts, according to Consensus Metrix. Kohl's now says profit excluding some items will be $4.75 to $4.95 -- with the new high point of the range 50 cents below the previous outlook. See more results here.Key InsightsWhile Chief Executive Officer Michelle Gass said the retailer was entering the crucial holiday period with "momentum" and is "strategically increasing" investment to boost growth and traffic, the results fueled investor concern. She said on a call after the earnings release that Kohl's is increasing its focus to attract millennial shoppers. Kohl's has been trying to set itself apart from the department-store segment, which has struggled to adapt to broad changes in consumer habits, by using partnerships and smaller-store formats. The results suggest the company needs to do more, however.The chain is banking on its alliance with Amazon.com Inc., which lets customers return Amazon purchases at the more than 1,000 Kohl's locations. Gass said on the call that executives are confident the partnership "will have a positive contribution to operating income in 2019." Kohl's goal: To get customers making returns to browse ai

RELATED ARTICLES
Kohl's slashes profit forecast after dismal quarter (Reuters Business)

Reuters Company NewsNov 19, 2019
Salesforce to use Amazon AI technology to improve call center services
Business software provider Salesforce.com Inc said on Tuesday it would use artificial intelligence (AI) technology from Amazon.com Inc's cloud computing unit to improve customer service apps.

Reuters Company NewsNov 19, 2019
CORRECTED-UPDATE 2-Sales of grounded Boeing 737 MAX gather pace at Dubai Airshow
Boeing's 737 MAX took centre stage at the Dubai Airshow on Tuesday as airlines announced plans to order up to 50 of the jets worth $6 billion at list prices despite a global grounding in place since March.

MarketWatch MarketPulseNov 19, 2019
Off-price retailer TJX shares rise after earnings and sales beat expectations
TJX Cos. stock rose 1.3% in Tuesday premarket trading after the off-price retailer reported third-quarter earnings and sales that beat guidance. Net income totaled $828.3 million, or 68 cents per share, up from $762.3 million, or 61 cents per share, last year. Sales of $10.45 billion was up from $9.83 billion last year. The FactSet consensus was for EPS of 66 cents and sales of $10.32 billion. Same-store sales rose 4%, including a 4% increase for Marmaxx in the U.S. and 6% increase for TJX international. For the fourth quarter, TJX expects EPS in the range of 74 cents to 76 cents. The FactSet consensus is for 77 cents. And for the full-year, the company expects EPS in the range of $2.61 to $2.63, while FactSet expects $2.61. TJX stock is up 33.1% for the year to date while the S&P 500 index has gained 24.5% for the period.

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.



Reuters BusinessNov 19, 2019
Kohl's cuts annual profit forecast after disappointing results; shares slump
Kohl's Corp cut its annual profit outlook on Tuesday ahead of the all-important holiday season, after the department store operator's quarterly comparable sales and earnings missed analysts' estimates, sending its shares down 12%.

Reuters Company NewsNov 19, 2019
Kohl's cuts full-year profit forecast; shares fall
Department store operator Kohl's Corp cut its annual profit expectations on Tuesday ahead of the all-important holiday shopping season, and missed same-store sales estimates for the third quarter, sending its shares down nearly 10%.
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