{"id":48622,"date":"2023-08-15T09:52:29","date_gmt":"2023-08-15T13:52:29","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/home-depot-d-r-horton-nvidia-u-s-steel-discover-and-more-market-movers\/"},"modified":"2023-08-15T09:52:31","modified_gmt":"2023-08-15T13:52:31","slug":"home-depot-d-r-horton-nvidia-u-s-steel-discover-and-more-market-movers","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=48622","title":{"rendered":"Home Depot, D.R. Horton, Nvidia, U.S. Steel, Discover, and More Market Movers"},"content":{"rendered":"
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Stock futures declined Tuesday as an increase in bond yields and growing worries about the Chinese economy pressured investor sentiment. U.S. retail sales in July, meanwhile, rose 0.7%, above economists\u2019 forecasts. <\/p>\n

These stocks were poised to make moves Tuesday:<\/p>\n

\n

\n Home Depot
\n (HD) reported second-quarter profit of $4.65 a share on revenue of $42.9 billion, beating analysts\u2019 estimates on both metrics. Same-store sales, a measure of revenue growth in stores open for at least a year, fell 2%, narrower than analysts\u2019 forecasts. The company\u2019s board also approved a buyback program of $15 billion.
\n Home Depot
\n was down 0.7%.<\/p>\n

Warren Buffett\u2019s
\n Berkshire Hathaway
\n \u00a0(BRK.B) took a new equity position in
\n D.R. Horton
\n (DHI),\u00a0the country\u2019s largest home builder, and smaller positions in home builders
\n Lennar
\n (LEN) and
\n NVR
\n (NVR). Berkshire took a stake of about 6 million shares in D.R. Horton that\u2019s now worth more than $700 million.\u00a0Berkshire reduced its stake in
\n General Motors
\n (GM) by 45% to 22 million shares now worth about $750 million, according to a\u00a013-F regulatory filing released late Monday.<\/p>\n

\n D.R. Horton
\n was rising 2.2%, while GM was down 0.9%.<\/p>\n

\n Nvidia
\n (NVDA) gained 2.4% to $447.79 after analysts at UBS raised their price target on the stock to $540 from $475 and kept a Buy rating on shares of the graphics chip maker ahead of earnings next week.
\n Nvidia
\n rose 7.1% on Monday.<\/p>\n

\n U.S. Steel
\n (X) fell 1.1% to $30.73 after finishing 37% higher on Monday after rejecting a $7.3 billion unsolicited offer from
\n Cleveland-Cliffs
\n (CLF). The cash-and-stock offer for
\n U.S. Steel
\n was valued at $35 a share. It was revealed late Monday that privately held Esmark offered to buy U.S. Steel for $35 a share, all in cash.\u00a0Esmark is headed by James Bouchard, a former vice president for\u00a0U.S. Steel\u2019s\u00a0European business. <\/p>\n

\n Hawaiian Electric Industries
\n (HE) extended losses, falling 6.3%, after tumbling 34% in the previous session amid accusations that downed power lines may have caused the wildfires that destroyed the town of Lahaina, Hawaii, and killed at least 99. Hawaii\u2019s state attorney general has announced an investigation into the cause of the fires. While no official cause has been determined, some are accusing Hawaiian Electric, the state\u2019s largest power provider, of failing to implement safety measures.\u00a0The company has told has told\u00a0Bloomberg\u00a0that it doesn\u2019t have information on what caused the fires.\u00a0<\/p>\n

\n Discover Financial
\n (DFS) announced that\u00a0CEO and President Roger Hochschild would be stepping down, effective immediately, and appointed board member John Owen to lead the financial services company. Discover\u2019s board has formed a special search committee to look for a permanent chief executive and president. Shares of Discover fell 8.3%.<\/p>\n

\n Paysafe
\n (PSFE) rose 5.8% after the payment provider\u2019s second-quarter adjusted profit topped Wall Street expectations.<\/p>\n

\n Arcellx
\n (ACLX) rose 7.1% after announcing that the Food and Drug Administration lifted a clinical hold on the company\u2019s CART-ddBCMA investigational drug to treat multiple myeloma.<\/p>\n

\n Getty Images
\n (GETY) was declining 16% after the stock-photo company swung to a loss in the second quarter and cut its revenue outlook for 2023.<\/p>\n

Write to Joe Woelfel at\u00a0joseph.woelfel@barrons.com\u00a0<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Stock futures declined Tuesday as an increase in bond yields and growing worries about the Chinese economy pressured investor sentiment. U.S. retail sales in July, meanwhile, rose 0.7%, above economists\u2019 forecasts. These stocks were poised to make moves Tuesday: Home Depot (HD) reported second-quarter profit of $4.65 a share on revenue of $42.9 billion, beating […]<\/p>\n","protected":false},"author":1,"featured_media":48623,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-48622","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nHome Depot, D.R. 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