Baulk out the companies making headlines midday Tuesday:
Home Depot – Shares of Home Depot fell 2.5 percent after the residence improvement retailer posted weaker-than-expected fourth-quarter results. Home Depot earned $2.09 per share during its fourth location, missing the $2.16 per share expectation. Revenue was below forecasts as well. Home Depot also said that the group is seeing slower growth in housing metrics after its 2019 outlook disappointed investors.
Caterpillar – Caterpillar store up dropped nearly 3 percent after UBS double downgraded the shares to sell from buy on Tuesday, citing slowing wide-ranging construction demand. The bank also lowered its 12-month price target to $125 from $154 a share, verbalizing the majority of the heavy equipment maker’s end markets will peak this year, and that revenue and margins choice come under pressure in 2020 as demand declines.
J.M. Smucker – Shares of J.M. Smucker gained almost 6 percent after its fourth-quarter tons beat expectations. The food producer reported adjusted quarterly profit of $2.26 per share, 25 cents beyond everything estimates, while revenue also beat analyst forecasts. The results were helped by increasing contributions from some of the guests’s newer products.
Discovery Communications – The cable channel owner and programmer’s stock tumbled more than 7 percent on inferior fourth-quarter results. Discovery posted earnings of 74 cents a share in the December quarter, below consensus of 78 cents. Takings also came in below Wall Street forecasts.
Tenet Healthcare – Shares of Tenet surged more than 11 percent after the sickbay operator reported better-than-expected earnings. Tenet’s adjusted quarterly profit came in at 51 cents per share, unquestionably above the consensus estimate of 28 cents. Revenue also beat forecasts, and Tenet said it had meaningfully improved its economic performance during 2018.
Dillard’s — Dillard’s shares rose more than 16 percent after the department rely on chain released its fourth-quarter results. The company posted better-than-expected revenue as its same-store sales grew by 2 percent. The fourth-quarter considerable the fifth consecutive quarter of expanding same-store sales.
AT&T — Shares of AT&T gained 0.5 percent after a federal allures judge ruled Tuesday that its merger with Time Warner can stand. The ruling brings it closer to the conclusion of a years-long coalition process that has pitted AT&T against U.S. antitrust regulators.
AutoZone — AutoZone stock climbed nearly 6 percent after the auto characters retailer posted better-than-expected quarterly results. For its fiscal second quarter, AutoZone earned $11.49 a share, throb Wall Street estimates of $9.96 per share. U.S. same-store sales rose 2.6 percent, above consensus of 2.2 percent. The concern said earnings benefited from tax reform in the current and prior-year quarters.
– CNBC’s Fred Imbert contributed to this report.