Stock Market Alert: Home Depot (HD.US) drops over 4% in pre-market trading, third quarter same-store sales performance below expectations.
According to the Zhitong Finance APP, on Tuesday, Home Depot (HD.US) fell more than 4% before the market opened, trading at $341.88. In terms of news, Home Depot's third-quarter profits and same-store sales were both lower than expected, due to the overall weak performance of the real estate market, as well as events like storms that reduced demand for roofs, generators, and other categories. Home Depot's third-quarter sales netted $41.35 billion, estimated at $40.97 billion; same-store sales increased by 0.2%, estimated to increase by 1.36%; adjusted earnings per share were $3.74, estimated at $3.84. Home Depot expects full-year revenue growth to be around 3%, previously expected to be around 2.8%.
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