On CNBC's “Halftime Report Final Trades,” Stephanie Link of Hightower said The Home Depot, Inc. (NYSE:HD) reported better-than-expected gross margins for the latest quarter, but posted soft top-line results.
On Aug. 13, Home Depot reported mixed results for its second quarter. HD reported second-quarter 2024 sales growth of 0.6% year-over-year to $43.175 billion, marginally missing the consensus estimate of $43.376 billion. Adjusted EPS was $4.67 (-0.2% year over year), beating the consensus of $4.50.
Joshua Brown of Ritholtz Wealth Management said he is staying long on Amazon.com, Inc. (NASDAQ:AMZN) and believe in this for the long term as selloff in the stock after earnings didn't make any sense.
Amazon.com is making waves by teaming up with social media giants TikTok and Pinterest. According to BofA analyst Justin Post, these platforms will soon allow users to buy products directly from Amazon without leaving their apps. The new partnerships aim to leverage Amazon’s shoppable ads, marking a significant step forward in digital commerce integration.
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Jim Lebenthal of Cerity Partners named Applied Materials, Inc. (NASDAQ:AMAT) as his final trade.
On Aug. 15, Applied Materials reported better-than-expected results for its third quarter. AMAT reported third-quarter revenue of $6.78 billion, beating the consensus estimate of $6.673 billion. The chip equipment company reported adjusted earnings of $2.12 per share, beating analyst estimates of 2.02 per share.
Price Action:
- Amazon shares fell 0.3% to close at $177.06 on Friday.
- Home Depot shares gained 0.6% to settle at $362.06 during Friday's session.
- Applied Materials shares fell 1.9% to close at $207.90 during Friday's session.
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