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Stocks - Home Depot, Caterpillar, Tesla Slump in Premarket, Macy’s Gains

Stock MarketsFeb 26, 2019 08:20AM ET
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Investing.com - Stocks in focus in premarket trade Tuesday:

Home Depot (NYSE:HD) stock fell 3.25% by 8:17 AM ET (13:17 GMT) after the company reported profit and comparable store sales that missed consensus a forecast a slowdown in 2019 comparable sales growth.

• Macy’s (NYSE:M) stock gained 2.05% after the company produced better-than-expected quarterly results and announced a new restructuring plan aimed at cutting $100 million in annual costs.

• Tesla (NASDAQ:TSLA) stock slumped 3.04% after the U.S. Securities and Exchange Commission accused Chief Executive Elon Musk of violating a legal agreement with it by tweeting material information about the company. Musk retorted via his Twitter account, claiming that “something is broken with SEC oversight."

Caterpillar (NYSE:CAT) stock sank 3.37% after UBS downgraded its recommendation all the way to sell from buy on its prediction that the company’s end markets will peak this year and then fall in 2020.

• Hertz Global (NYSE:HTZ) stock surged 10.94% after the company reported better-than-expected profit for the fourth quarter.

• Etsy (NASDAQ:ETSY) stock soared 9.13% after the company reported quarterly results that beat consensus and raised its full-year revenue outlook.

• Mosaic NYSE:MOS) stock jumped 5.13% after the company reported better-than-expected quarterly results and doubled its dividend.

• Range Resources (NYSE:RRC) stock rose 2.54% after the company reported fourth-quarter adjusted earnings that topped consensus.

Tenet Healthcare (NYSE:THC) stock surged 14.78% after the company reported fourth-quarter results that beat on the top and bottom lines.

Stocks - Home Depot, Caterpillar, Tesla Slump in Premarket, Macy’s Gains
 

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