Stock Buzz: Home Depot Profits Grow, Dick’s Jumps 7%, Groupon Giddy
Shares of Home Depot Inc. (NYSE:HD) are down only 1 percent in morning trading. The home improvement retailer reported first-quarter earnings of $1 billion (68 cents per share), compared to $812 million (50 cents per share) a year earlier. However, the company reported revenues of $17.8 billion, slightly below estimates.
A Closer Look: Home Deport Earnings Cheat Sheet>>
Saks Inc. (NYSE:SKS) shares dropped 3.5 percent in early trading, but are now flat on the day. Net income for the fashion retailer increased to $32.1 million (18 cents per share), compared to $28.4 million (16 cents per share) a year earlier. Adjusted net income came in at 17 cents per share, missing estimates by 1 cent.
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Groupon Inc. (NASDAQ:GRPN) shares are surging 17 percent in trading. The company reported late Monday that its first-quarter loss narrowed to $4.5 million, compared to $146.5 million a year earlier. “We are pleased to report a record quarter that demonstrates our progress in unlocking the opportunity in local commerce for merchants and customers worldwide,” said Andrew Mason, CEO of Groupon. Groupon Earnings Cheat Sheet>>
Shares of Dick’s Sporting Goods Inc. (NYSE:DKS) jumped over 7 percent this morning. The company reported a 52.4 percent rise in net income to $57.2 million (45 cents per share), compared to $37.5 million (30 cents per share) a year earlier. “We had an exceptionally strong first quarter as we generated record earnings with a 50% increase in earnings per share on 15% sales growth. We also maintained a healthy balance sheet while returning capital to stockholders through our dividend and share repurchase programs,” said Edward W. Stack, Chairman and CEO.
Apple Inc. (NASDAQ:AAPL) shares ticked slightly higher over $3 Tuesday morning. Sources reportedly told Digitimes that Apple will use G/F2 thin-film touch technology for its planned 7.85-inch iPad, rumored to be out in the fourth-quarter this year. The “iPad Mini” as it’s being dubbed by the press is said to feature the G/F2 technology, which will be supplied by Nitto, while Nissha Printing and TPK will be producing the touch screen, the sources said.
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