Shares of Home Depot, the largest home improvement company in the United States, held up well on Tuesday and surprised investors with a downgrade.
The stock closed up 1. 23% as investors shrugged off the downgrade, prompting Home Depot to warn of a decline in annual profit and a further drop in its comparable annual sales.
Normally, such caution on the part of a primary sector like Home Depot would have fueled the prevailing view of a weakened economy and the need for rate cuts. It turns out that there is a misconception that reducing tariffs will solve many disruptions in retail, but that is wishful thinking. The first rate cut will ease tensions, but it will not lead to a rebound in demand. And besides, if this were a quick boost, it wouldn’t be felt until early 2025.
But interestingly, it was ignored as investors priced in a weak price report from manufacturers and awaited tonight’s consumer price index data, which is perhaps not why Home Depot’s caution was ignored.
Home Depot said its consumers are delaying giant projects such as floors, kitchen cabinets and toilets because of higher borrowing costs and inflation, even as loan rates and housing costs hurt new home sales.
“Everyone is expecting a rate cut. So they (customers) are those (larger) projects,” CEO Ted Decker said on a conference call after the results.
Comparable sales fell 3. 3%, more than expectations for a 1. 98% drop, while visitor transactions, a measure of traffic at Home Depot, declined for the 13th consecutive quarter.
Home Depot now expects comparable annual sales to decline 3 percent to 4 percent, versus a decline of about 1 percent, while diluted earnings per percentage are expected to fall 2 percent to 4 percent.
This concept of consumer restraint will be put to the test on Wednesday through Walmart’s quarterly numbers.
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Increases across the board of Deep Leads’ resources: quality, tonnage and target area ABx Group has reported a 30% increase in its mineral resource estimate (MRE) at Deep Leads’ rare ion adsorption clay (IAC) earth deposit in northern Tasmania. The accumulation in MRE comes from 36 tested outlets, representing a significant northward extension for the existing Deep Leads prospect.
Lake Resources (LKE. ASX) – LKE has signed two non-binding MoUs within 10 days. Ford Company (Ford) has signed a memorandum of understanding for about 25,000 t/year and last week, Hanwa, a Japanese raw materials trader, signed a memorandum of understanding for up to 25,000 t/year. Subject to execution, this is a feat as Ford and Hanwa are set to engage in long-term strategic partnerships with LKE. Trade negotiations are still ongoing but should, namely whether Ford and Hanwa will inject new capital into LKE, removing additional risks in financing the task and thus ensuring that LKE and Kachi are fully funded.
Two recent gravity studies have particularly exceeded expectations and revealed prospects for extension of the existing MRE at Throssell Lake, as well as a significant expansion opportunity at Yeo Lake. This reinforces the prospect of a multi-decade SOP Tier 1 production center around Lake Throssell.
Lately, TMG is completing paints in preparation for the PFS planned for early 2023, adding the start of drilling in the third quarter of 2022, evaporation testing and authorization activities. The effects of these systems will affect the PFS and any long-term resource improvements.
SOP reference prices have increased to around $940/t due to recent geopolitical developments. The October 2021 scoping study assumed an SOP value of $550/t and contained a sensitivity study showing that each 10% accrual in value effects amounted to $144 million accrued to the NPV of the $364 million allocation. The accrual of around 70% compared to the scoping study implies an NPV of the allocation of approximately $1. 4 billion.
Despite the fall in oil and fuel prices, which fell 5. 4% and 19. 7% respectively in August, Calima managed to show an improvement in its main indicators.
WT Financial Group Limited (WTL) is a rapidly growing diversified monetary company, founded in 2010 and indexed on the Australian Stock Exchange (ASX) in 2015. Its recommendations and product offerings are provided primarily through an advisory organization independent monetary advisors who act as legal advisors. representatives. WTL in relation to its broker organization activities Wealth Today Pty Ltd (Wealth Today) and Sentry Group Pty Ltd (Sentry Group). It has approximately 275 advisors in over two hundred money advice companies across Australia. It also operates a direct-to-consumer operation under its Spring Financial Group brand.
In May 2021, Corporate Connect analyst Marc Sinatra published a full study report on ASX-listed biotech Immutep Ltd (ASX: IMM). He was so inspired by IMM that Corporate Connect found it imperative to publish a follow-up report that valued the company, as the market did not see the great prospects of eftilagimod alfa (efti).
This follow-up report was released today. Using comparables, after adding a reduction of money to its EV estimate and dividing by the total number of percentages issued, Corporate Connect now puts the fair price of a percentage of Immutep at AU$2. 20.