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 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.
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 (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
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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.
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 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%.
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Shares of Medtronic PLC surged 2.4% in premarket trading Tuesday, after the medical technology company reported fiscal second-quarter earnings that rose above expectations, and raised its full-year profit outlook, but the stock slipped 1.1% in premarket trading to extend a pullback from the previous session's all-time intraday high. Net income for the quarter to Oct. 25 rose to $1.36 billion, or $1.01 a share, from $1.12 billion, or 82 cents a share, in the year-ago period. Excluding non-recurring items, adjusted earnings per share came to $1.31, above the FactSet consensus of $1.28. Revenue rose 3.0% to $7.71 billion, above the FactSet consensus of $7.66 billion, as beats in diabetes, restorative therapies and minimally invasive therapies segment revenue offset a slight miss in cardiac and vascular revenue. For fiscal 2020, the company affirmed its revenue growth outlook of 4.0% but raised its adjusted EPS guidance range to $5.57 to $5.63 from $5.54 to $5.60. The stock had closed at a record $112.06 on Friday, then rose to an record intraday high of $114.46 on Monday before reversing to closed down 0.7%. The stock has rallied 22.3% year to date through Monday, while the S&P 500 has climbed 24.5%.
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.
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