HD Supply Plummets 17% Following Q1 Earnings

HD Supply Holdings Inc HDS shares are trading lower by $7.40 (17.8 percent) at $33.87 in Tuesday's session.

Before the open, the company announced a mixed Q1 report that revealed an EPS miss of three cents along with a $40 million beat for sales. The company will also sell its Waterworks Business unit to Clayton, Dubilier & Rice for $2.5 billion. The company also authorized a share repurchase program.

After much lower open, HD Supply Holdings had a brief 24-cent rally to $37.29 before continuing its move lower. So far, it has taken the stock to $33.41 and is struggling to remain in the $34.00 handle. That low marks the lowest level for the stock since November 8, 2016, when it bottomed at $32.29.