Dow Jones News: Home Depot Slashes Outlook; Microsoft Powers Ahead of Slack
Home Depot (NYSE: HD) dragged down the Dow Jones Industrial Average (DJINDICES: ^DJI) on Tuesday thanks to a mixed earnings report and a guidance cut. The Dow was down 0.34% at 1:35 p.m. EST, badly trailing the other major stock indices.
While Home Depot stock sank, shares of Microsoft (NASDAQ: MSFT) managed a small gain. The trillion-dollar software company disclosed that its Teams product was racking up millions of users, a blow to rival Slack Technologies (NYSE: WORK).
Home improvement retailer Home Depot's third-quarter results were far from bad. Comparable sales grew 3.6%, which drove a slight increase in earnings per share (EPS). But the company fell short of analyst expectations, and it cut its full-year guidance because various strategic investments are taking longer than expected to bear fruit. The stock was down 5.1% on the news.
Source Fool.com
