Home Depot (HD) And Walmart (WMT) Stocks Fell Despite Better Results, Health Stocks Also Facing Problems

The U.S. furniture retail giant, The Home Depot Inc (HD) fell -2.54 percent, reported increased spending in the quarter ended, helping with 24 percent solid like-for-like growth. The retailer posted earnings per share of $3.18, up 26 percent and 13 cents above consensus, in the quarter ended early November. Total sales increased to $33.5 billion by 23 percent. CEO Craig Menear hailed an “exceptional” quarter and the adaptation of the company to the world of high demand. The group will compensate its workers on an annualized basis with an extra $1 billion in ‘incremental’ payments.

Walmart Inc (WMT) closed at -2.01 percent, despite the U.S. retail leader, reported growth of almost 80 percent in online selling. The Arkansas group posted earnings per share of $1.34 for the quarter ended October, up almost 16% year-on-year, compared to a consensus of $1.18. From a consensus of $132.2 billion, combined quarterly sales increased 5.2 percent to $134.7 billion. The US market’s same-term domestic growth was 6.4 percent compared to a 4.6 percent consensus.

Stocks of Rite Aid Corporation (RAD) (-16.29 percent), CVS Health Corporation (CVS) (-8.62 percent) and Walgreens Boots Alliance Inc (WBA) (-9.63 percent) fell on Tuesday as big rival is said to be landing in their market. The e-commerce giant Amazon (up 0.15%) will launch an online pharmacy program in the United States including prescription drugs. With reduced rates expected for Prime customers, the strategic move by the company would certainly upset the market.

Moderna Inc (MRNA) lost -4.90 percent in Tuesday trading, which reported on Monday a 94.5 percent efficacy of its vaccine candidate against coronavirus. But now it added that the vaccine should remain stable for 30 days at normal temperatures of 2 to 8 degrees, against a previous estimate of 7 days, according to intermediate phase 3 results.

Leave a Comment

Your email address will not be published. Required fields are marked *