Home Depot Reports: Market Happenings For Tuesday, November 13, 2012

Premarket, futures are down of course. Gainers this morning include STX (+3.76%), LSI, APD, CELG and NVDA while losers include LNC (-17.75%), MSFT, GILD, X and FSLR

The Market

Home Depot Inc. (HD) reported net income rose to $947 million (63 cents per share) vs. $934 million (60 cents per share) in the same quarter a year earlier. That’s a +1.4% rise from the year-earlier quarter. Revenue was up +4.5% to $18.1 billion from the year-earlier quarter. Home Depot reported adjusted net income of 74 cents per share ad by that measure, the company beat the mean estimate of 70 cents per share. Home Depot also beat revenue estimates of $17.81 billion.

There were no Dow stocks with 52 week highs however, INTC, DD and HPQ had 52 week lows yesterday.

Cisco Systems (CSCO) reports earnings after the bell.

Oh, and I haven’t yet said anything on fiscal cliff. Now I have. Get out there are hound your local politicians on that matter.

Wal-Mart (WMT) reports earnings on Thursday before the open.

Earnings Reports

Earnings reports (estimates): Home Depot ($0.70), CSCO-Cisco Systems (0.46), TJX-TJX Companies (0.63), DKS-Dick’s Sporting Goods (0.37), ACM-Aecom Technology (0.82), WWD-Woodward (0.56), SKS-Saks (0.12).

Financial Calendar

n/a Congress reconvenes for lame duck session.

1000 ET Nov IBD/TIPP economic optimism, Oct 54.0.

1100 ET USDA weekly grain export inspections.

1130 ET Weekly 3-mo and 6-mo T-bill auctions.

1400 ET Oct monthly budget statement expected -$125 bln, Sep +$75.020 billion.

1530 ET Fed Vice Chairman Janet Yellen speaks on central bank communications at UC Berkeley.

1600 ET USDA Crop Progress.

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