A Home Depot branded bucket in a Home Depot store in Hercules, Calif., On Monday, February 22, 2021.
David Paul Morris | Bloomberg | Getty Images
Check out the companies that are making the headlines in midday trading.
Home Depot – The home improvement retailer’s shares fell more than 4% following the release of results for the second quarter. However, comparable store sales fell short of forecast, up 4.5% compared to a consensus estimate from StreetAccount of 5%. Home Depot, however, made $ 4.53 per share, 9 cents per share above estimates. Sales also exceeded forecasts.
23andMe – 23andMe’s shares rose over 14% in midday trading after Credit Suisse initiated coverage of the stock with an outperform rating and said in a notice to clients that the company’s pharmaceutical research database was difficult to access be.
Walmart – The big box retailer’s share price rose about 0.2% after reporting a profit in the second quarter that beat analyst estimates. The retailer grew in the grocery sector and reported a strong start to the back-to-school season.
Tencent Music – Tencent Music stocks fell roughly 13% after the online music entertainment platform missed revenue expectations for the second quarter. The company reported sales of 8.01 billion Chinese yuan, compared to 8.13 billion Chinese analysts surveyed by Refinitiv.
Endeavor Group Holdings – The company’s shares rose about 9% after the entertainment group beat earnings estimates in the second quarter. Endeavor posted a profit of 19 cents on an adjusted basis, while analysts had expected a loss of 2 cents per share. However, sales remained slightly below estimates. The company also raised its full-year revenue forecast due to increasing demand for face-to-face events.
Roblox – The video game company’s stocks were down nearly 2% after Roblox bookings in the second quarter were below expectations. The company reported $ 665 million for the revenue metric, while analysts surveyed by Refinitiv expected $ 683 million. However, Roblox estimates daily active users increased 8% from June to July and bookings increased 10-11% over the same period.
Stanley Black & Decker – The toolmaker’s shares fell about 3% in midday trading after it was announced Tuesday morning that it had closed a deal with MTD Holdings, the outdoor power equipment company, to buy its stake in the company to add $ 1.6 billion in cash. Stanley Black & Decker has held a 20% stake in MTD since 2019 and will acquire the remaining 80% it does not yet own.
– with reports from Pippa Stevens, Jesse Pound, Tanaya Macheel and Hannah Miao from CNBC.