Stocks in the News: Home Depot, Fidelity National, Walmart


The following is a round-up of news likely to affect stock prices today:

Home Depot (HD) reported Tuesday its fiscal first-quarter net income surged 41% as consumers snatched up seasonal items and the number of customer transactions improved, helping revenue grow 4.3%. Same-store sales rose 3.3%. Results beat estimates and Home Depot also boosted its 2010 profit forecast above Wall Street's expectations and raised its sales outlook. Shares rose over 1% in premarket trading.

Walmart (WMT) reported Tuesday earnings for the 2011 first quarter rose to $3.3 billion, or 88 cents per share, from $3 billion, or 77 cents per share a year earlier. Results beat earnings estimates of 85 cents per share. Net sales increased 6% to $99.1 billion, including a currency exchange rate benefit of $2.5 billion. Same-store sales excluding fuel fell 1.1% in the quarter. Walmart sees earnings for second quarter earnings in the range of 93-98 cents per share. Analysts expected 98 cents per share.

Hewlett-Packard (HP) will be reporting results Tuesday after the market's close. Analysts surveyed by Thomson Reuters expect HP to report second-quarter earnings of $1.05 per share on $29.82 billion in revenue.

Abercrombie & Fitch (ANF) said Tuesday it narrowed its first-quarter loss to $11.8 million, or 13 cents a share as sales rose 14% to $687.8 million. Loss per share, however, was larger than analysts had estimated.

Microsoft (MSFT) will be upgrading Hotmail in the summer in an attempt to make the email cool again.

Vodafone (VOD) reported Tuesday its full year profit more than doubled to £8.65 billion ($12.5 billion) as strong growth in Asia helped offset declines elsewhere and revenue rose 8.4%. Shares fell some 1.5% ahead of the bell.

Fidelity National Information Services (FIS) shares slumped over 8% after a consortium bidding for the company in what was going to be the largest leveraged buyout since 2007 pulled out on Monday because of disagreement over price.

Smucker (SJM) said Tuesday coffee prices will go up about 4% for its retail brands, driven by sustained increases in green coffee, fuel, and packaging costs.

Boeing (BA) said late Monday it would increase the rate at which it builds 737 jets in early 2012 due to strong customer demand as the global economy continues to recover.

Agilent Technologies (A) reported quarterly results late Monday that beat market expectations, on strength across all its markets, and gave a strong profit forecast for the third quarter. Shares dropped 2% before the bell.

Google (GOOG) is buying Global IP Solutions Holding AB for $68.2 million in cash, a 27.5% premium of Friday's close, in a move to expand its Internet video and audio offerings.

Genzyme (GENZ) and its directors and management may find themselves further battling activist investor Carl Icahn, who has more than doubled his stake in biotechnology giant.

United Parcel Service (UPS) said on Tuesday it expected strong growth in the second quarter in its Asia business.