Home Depot climbs as investors look past Q2 miss

Home Depot shares were up over 4% Tuesday after the home improvement retailer turned in weaker-than-expected Q2 results but doubled down on its full-year outlook.

Adjusted earnings per share came in at $4.68, below analysts’ forecast of about $4.72. Revenue landed at $45.28 billion, also shy of expectations. Comparable-store sales grew 1%, slightly below the 1.4% gain analysts were looking for, as cash-strapped consumers push back big-ticket home improvement projects.

Still, the company reiterated its full-year outlook, projecting a 1% lift in same-store sales and net sales growth of 2.8% — largely in line with the Street’s estimates. The cautious but steady guidance could be a sign that management is confident even as demand cools.

Home Depot shares are now up about 6% year to date.

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SpaceX went public on June 12 at a $2.2 trillion valuation, the largest debut in history. While the company hasn’t yet posted a profit, it seems to have convinced Wall Street that it will get there and grow its valuation on the way.

Of the at least 17 analysts that gave a rating on Tuesday, all but one gave it a “buy” or “outperform” rating. MoffettNathanson was "neutral."

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Nike sinks to lowest level since 2014 after warning of “challenged” sales environment in Q4 report

Did Nike do it?

Investors had a mixed reaction after the global sports apparel company reported its fourth quarter earnings on Tuesday after the bell. Shares initially rose 5% as Nike beat out Wall Street expectations amid a hefty tariff refund bonus. However, the stock then sank to its lowest level since August 2014 in postmarket trading.

Here are the Q4 numbers:

Revenue of $11.0 billion (estimate: $10.8 billion).
Adjusted earnings per share of $0.20 (estimate: $0.12).

Ahead of this report, Nike warned that results would be flattered by a one-time tariff refund (now estimated at roughly $0.52 per share for the bottom line). That gave the company an extra cushion in snapping its streak of seven quarters of year-over-year profit declines.

Over the past year, the company had been punished by tariffs on imported goods, stagnant consumer spending, and increasing competition from other footwear brands like New Balance, Adidas, and Hoka.

Outgoing CFO Matthew Friend deemed it an “increasingly challenging operating environment, where sell-through remains challenged.”

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