Mid-Morning Market Update: Markets Rise; Home Depot Lifts Outlook - Best Buy Co (NYSE:BBY)

Following the market opening Tuesday, the Dow traded up 0.17 percent to 16,002.41 while the NASDAQ surged 0.18 percent to 3,956.33. The S&P also rose, gaining 0.06 percent to 1,792.58.

Top Headline
Home Depot HD reported a 43% gain in its fiscal third-quarter profit and lifted its forecast for the year.

Home Depot now expects full-year earnings of $3.72 per share on sales growth of 5.6%. The company had earlier expected earnings of $3.60 per share on sales growth of 4.5%.

Home Depot's quarterly profit surged to $1.35 billion, or $0.95 per share, from a year-ago profit of $947 million, or $0.63 per share. Its sales increased 7.4% to $19.47 billion. However, analysts were expecting earnings of $0.90 per share on revenue of $19.18 billion. Home Depot's same-store sales climbed 7.4% in the quarter.

Equities Trading UP

Qiwi plc

QIWI

shot up 11.94 percent to $47.06 on Q3 results.

Shares of Brocade Communications Systems BRCD got a boost, shooting up 5 percent to $8.50 after the company reported a better-than-expected Q4 profit. Trina Solar TSL was also up, gaining 3.26 percent to $16.72 after the company posted a profit in the third quarter and lifted its full-year shipment outlook.

Equities Trading DOWN

Shares of Oiltanking Partners LP

OILT

were down 6.19 percent to $60.46 after the company

priced an offering

of 2.6 million common units.

Best Buy Co BBY shares tumbled 8.40 percent to $39.90 after the company swung to a profit in the fiscal third-quarter profit.

Campbell Soup Company

CPB

was down, falling 6.15 percent to $39.24 after reported a

30% drop

in its fiscal first-quarter earnings and lowered its forecast for the year.

Commodities
In commodity news, oil traded down 0.10 percent to $92.94, while gold traded up 0.08 percent to $1,273.30.

Silver traded down 0.03 percent Tuesday to $20.35, while copper rose 0.44 percent to $3.17.

Eurozone
European shares were lower today. The Spanish Ibex Index fell 1.07 percent, while Italy's FTSE MIB Index tumbled 1 percent. Meanwhile, the German DAX fell 0.23 percent and the French CAC 40 dropped 1.02 percent while U.K. shares declined 0.44 percent.

Economics

US employment cost index rose0.4% in the third quarter, versus a 0.5% growth in the second quarter. However, economists were expecting a 0.5% growth.

The ICSC-Goldman Sachs store sales index rose 0.1% in the week ended Saturday versus previous week.

The Treasury is set to auction 4-week bills.

Market News and Data brought to you by Benzinga APIs