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MarketWatch MarketPulseNov 13, 2018
Home Depot shares jump 2.6% in premarket trade after earnings, bettter-than-expected guidance
Shares of Home Depot Inc. rose 2.3% in premarket trade Tuesday, after the home-improvement retailer reported fiscal third-quarter earnings and revenue that beat expectations, and raised its full-year outlook. Net income for the quarter to Oct.28 increased to $2.9 billion, or $2.51 a share, from $2.2 billion, or $1.84 a diluted share, in the same period a year ago. The FactSet consensus for earnings per share was $2.27. Revenue rose 5.1% to $26.30 billion, above the FactSet consensus of $26.242 billion, as same-store sales rose 4.8%, better than an expected 4.7% increase. Shares of Home Depot are down 5.3% so far this year, compared against a gain of about 2% in the first 11 months of the year for the S&P 500 index . The company said it expects full-year 2018 sales to increase by about 7.2%. It also expects that for the comparable 52-week period that same-store sales will increase by about 5.5%. The 2018 fiscal year has 53 weeks. The company also said it now expects profit for the year to be $9.75 a share. The company is scheduled to host a call to discuss results with analysts at 9 a.m. Eastern Time.

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MarketWatch MarketPulseNov 13, 2018
Apple's stock falls after Goldman cuts price target, iPhone unit estimates
Shares of Apple Inc. dropped 1.4% in premarket trade Tuesday, after Goldman Sachs slashed its price target by 13% and cut iPhone unit estimates in the wake of a profit and sales warning from supplier Lumentum Holdings Inc. . Analyst Rod Hall lowered his price target to $209 from $240, and reiterated the neutral rating he's had on Apple since Feb. 6. He cut his fiscal 2019 revenue outlook by 3.5% to $269.94 billion, which compares with the FactSet consensus of $280.5 billion; he lowered his earnings estimate to $13.00 from $13.44, while the FactSet consensus is $13.45; and reduced his total iPhone units estimate by 6%, as declines in iPhone XR/XS Max/XS unit estimates offsets increases in lower-priced iPhone units. Apple's stock had tumbled 5.0% to a 3 1/2-month low on Monday, after Lumentum cut is earnings and revenue outlook after it recently received a request from "one of our largest" customers to "materially reduce shipments" of laser diodes for 3D sensing, and Lumentum has disclosed in the past that Apple was its largest customer. Sanderson said he's concerned Lumentum's warning suggests demand for new iPhone modes is deteriorating. "We note this could easily right itself given the bulk of demand comes in late December but we feel more prudent sell through forecasts are warranted due to the timing and magnitude of this warning," Sanderson wrote in a note to clients. Apple's stock has shed 16% since its Oct. 3 record close of $232.07 through Monday, while the Dow Jones Industrial Average has lost 5.4% over the same time.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

MarketWatch MarketPulseNov 13, 2018
Advance Auto Parts shares surge 5% premarket after earnings beat, raised guidance
Advance Auto Parts Inc. shares jumped 5% in premarket trade Tuesday, after the company beat third-quarter estimates and raised guidance for the full-year. The company said it had net income of $115.8 million, or $1.56 a share, in the quarter, up from $95.9 million, or $1.30 a share, in the year-earlier period. Adjusted per-share earnings came to $1.89, ahead of the FactSet consensus of $1.76. Sales rose 4.3% to $2.3 billion, also ahead of the FactSet consensus of $2.2 billion. Same-store sales rose 4.6%, to beat the 2.5% FactSet consensus. Chief Executive Tom Greco said the improving demand environment has allowed the company raise guidance for the full year. Advance Auto is now expecting sales to range from $9.550 billion to $9.600 billion, up from prior guidance of $9.300 billion to $9.500 billion. Same-store sales are expected to climb 2.0% to 2.5%, versus earlier guidance of flat to up 1.5%. Shares have gained about 68% in 2018, while the S&P 500 has gained 2%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit for more information on this news.

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