Home Depot Flirts With All-Time High After Q3 Beat
Home Depot Inc (NYSE: HD) shares are trading higher by $5 at $125.84. The rally is the result of a Q3 EPS beat of $0.03 with inline revenues. This is the sixth consecutive quarter the company has met or beat Wall Street estimates for EPS and revenues. Over that course of time (August 19, 2014), the issue has soared from $75.21 to its current level.
After a higher open, it had a nearly $2 selloff before bottoming at $123.10 and resuming its rally. So far, the rally ended $0.02 shy of its all-time high that was made on November 12 at $126.12. In order to post a new all-time closing high, it would need to settle above its November 6 close ($125.98).
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
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