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Home Depot, Walmart and Loews Fall Premarket

Published 08/17/2021, 08:03 AM
Updated 08/17/2021, 08:04 AM
© Reuters.

© Reuters.

By Peter Nurse 

Investing.com -- Stocks in focus in premarket trade on Tuesday, August 17th. Please refresh for updates.

  • Home Depot (NYSE:HD) stock fell 3.4% after the retail giant missed estimates for U.S. same-store sales for the first time in seven quarters, as the surge in demand for home-improvement products during the pandemic waned. Rival Loews (NYSE:L) stock fell 4.6% as a consequence.

  • Walmart (NYSE:WMT) stock fell 0.8% despite the world’s no. 1 retailer raising its annual U.S. same-store sales forecast after beating estimates, buoyed by customers buying additional back-to-school products after a prolonged period of online learning. The company reported a sharp slowdown in online sales growth, a key indicator of its ability to compete with Amazon (NASDAQ:AMZN).

  • Alibaba (NYSE:BABA) ADRs fell 3.5%, Tencent Music (NYSE:TME) stock fell 5.2% and JD.com (NASDAQ:JD).ADRs fell 3.7% after Chinese regulators issued a new draft of rules designed to stop unfair competition on the Internet. The rules prohibit various strategies aimed at creating self-contained ecosystems on the web, one of the pillars of the investment case for all three stocks.

  • Roblox (NYSE:RBLX) stock fell 6.3% after the online video gaming company’s second-quarter bookings missed expectations, even though its daily active users rose 8% in July from the prior month.

  • Porch Group (NASDAQ:PRCH) stock rose 0.7% after the online marketplace beat expectations for its second quarter, reporting a strong gain in revenue and a smaller loss than expected.

  • Spirit Airlines (NYSE:SAVE) stock fell 4.7% after the airline said the canceling of more than 2,800 flights in late July and early August cost it about $50 million.

  • BHP Group (NYSE:BHP)ADRs rose 6.6% following the company’s decision to end its dual-listing as well as its deal to merge its petroleum assets with Woodside (OTC:WOPEY).

Latest comments

AMC and GME are up.....
Expect more downfall in the course of the week.
..Disney not saving markets today??
I'm sure the Dax will! another rigged market
060464038
Loews
New store in town!
MSM says its because of Delta variant scare. No, its because mo more stimmies = no more spending!
Just terrible journalism. Lowes not Loews. smh
it’s just a company misspelling. That doesn’t make it terrible journaling.
No more “stimulus” money.
Apparently the author hasn't been to a **Lowe's** before. lol
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