Stocks in the news: Home Depot, Target, Exxon Mobil

Home Depot (HD) said Tuesday that its third-quarter earnings fell 8.9% to $689 million, or 41 cents per share, as the housing and renovation markets remained weak. Revenue fell 8% to $16.36 billion. Same-store sales dropped 6.9%. Results beat estimates of 36 cents per share on revenue of $16.27 billion. The company also raised its full-year earnings outlook. Shares declined over 2% ahead of the bell.

Applied Materials Inc. (AMAT) said Tuesday that it will buy Semitool Inc. (SMTL) for $11 a share in an all-cash tender offer. The aggregate purchase price is about $364 million. Semitool shares, which closed Monday 10% higher at $8.4, shot up 30% in premarket trading to $10.94 at last check.

Lazard Ltd. (LAZ) announced Monday it has appointed Kenneth M. Jacobs, 51, as chairman of the board of directors and CEO, effective immediately. Jacobs replaces Bruce Wasserstein, who died on Oct. 14.