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Non-Tech : Home Depot (HD)
HD 371.10+0.6%Nov 7 9:30 AM EST
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To: Dennis who wrote (765)8/12/1999 12:04:00 PM
From: Xpiderman  Read Replies (1) of 1169
 
Per Briefing.com: Home Depot (HD) 60 3/16 +2 7/16:

Briefing.com always enjoys the opportunity to write about those stocks that we consider to be core investment candidates.

Home Depot is one such stock, having added the company to our core investment list on June 8, 1999. As it has done so often in the past, Home Depot is impressing its shareholders today, saying that it expects to report diluted earnings per share for its second fiscal quarter of $0.44-- a full 5 cents ahead of estimates.

The better than expected results are being attributed to continued strong sales and gross margin rate increases as well as the leveraging of certain store operating expenses. Whetting investors' appetites ahead of its actual earnings report next Tuesday, Home Depot acknowledged that sales in the second quarter were up 28% to $10.431 bln, and that same-store sales increased 11%. Having hit an all-time high of 69 15/16 on July 15, shares of HD fell 23% to an intra-day low of 53 5/8 on August 10 as rising interest rates and a slowdown in the housing market took some of the shine off Home Depot's prospects-- or at least the perception was there that Home Depot might not do as well.

With today's news, the company is doing its part to dispel those fears while providing added proof that it is one of the best-managed companies out there as it appears poised to record its 54th consecutive quarter of record year-over-year earnings.

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