Stock Market News: Kohl's and Home Depot Sink as Earnings Underwhelm
After initially climbing to fresh highs early Tuesday, major market indexes pulled back amid reports that Chinese authorities are "pessimistic" over coming to terms with the U.S. on rolling back tariffs to resolve a long-running trade war between the two countries. As of 11:15 a.m. EST, the Dow Jones Industrial Average (DJINDICES: ^DJI) was down 113 points to 27,923. The S&P 500 (SNPINDEX: ^GSPC) also lost 4 points to 3,118, and the Nasdaq Composite (NASDAQINDEX: ^IXIC) had moved about 30 points lower to 8548.
earnings news from Home Depot (NYSE: HD) and Kohl's (NYSE: KSS) left shares of both retail chains falling even harder than the broader market this morning.
As of this writing, shares of Home Depot are down 5.1% after the home-improvement retailer announced mixed third-quarter 2019 results. Revenue climbed 3.5% year over year to $27.2 billion, helped by a 3.6% increase in comparable sales. On the bottom line, that translated to net income of $2.8 billion, or $2.53 per share, compared to $2.9 billion, or $2.51 per share in the year-ago period.
Source Fool.com
