• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • Trifecta Stocks
  1. Home
  2. / Investing
  3. / Consumer Discretionary

Morning Movers: HD, AIG, HAIN

Home Depot says its second quarter was largely boosted by momentum in housing.
By JAMES PASSERI Aug 16, 2016 | 08:33 AM EDT
Stocks quotes in this article: HD, AIG, HAIN

U.S. markets were fairly flat in premarket trading Tuesday, with the S&P 500 and Dow Jones industrials each up just 0.1% before the opening bell. Meanwhile, crude oil prices continued their four-day climb, rising 0.6% to $46.02 a barrel, based on U.S. benchmark West Texas Intermediate.

Home Depot (HD) rolled out second-quarter earnings before the opening bell, posting earnings of $1.97 per share for the period, topping consensus estimates by a penny, while sales of $26.5 billion were roughly in line with expectation. Home Depot shares were up about 1% in premarket trading.

Sales of the Atlanta-based supplies retailer rose nearly 7% year over year, while same-store sales were up 4.7% over the period, with revenue increasing 5.4% in the U.S for the quarter. Home Depot also reaffirmed its sales growth guidance for the year at just over 6%, while same-store-sales growth will likely rise about 5%.

"We had a solid quarter, achieving the highest quarterly sales and net earnings results in company history as housing continues to be a tailwind for our business," CEO Craig Menear said in a Tuesday statement.

American International Group (AIG)   announced plans to sell mortgage insurance unit United Guaranty for roughly $3.4 billion, noting Arch Capital has agreed to pay $2.2 billion in cash, $250 million in perpetual preferred stock, and $975 million in convertible preferred stock.

The move is part of AIG's efforts to streamline its organization. In January, the New York-based AIG announced plans to spin off United Guaranty amid pressure from activist investor Carl Icahn, who has called for AIG to split into three more manageable insurance divisions.

"We believe this transaction maximizes UGC's value while further streamlining our organization," CEO Peter Hancock said in a Monday statement. "It puts us in a stronger position to invest in the talent and technology essential to being our clients' most valued insurer, while we continue to deliver on the promise made by AIG's Board and management to return $25 billion to our shareholders by the end of 2017."

Hain Celestial ( HAIN) shares plummeted by about 27% before the opening bell after the organic food maker announced it will delay its annual earnings report with the Securities and Exchange Commission because of accounting issues. Hain added it does not expect to reach prior earnings and sales guidance set for its fiscal year ended June 30.
Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are restricted from owning individual securities.

Action Alerts PLUS, which Cramer co-manages as a charitable trust, has no positions in the stocks mentioned

TAGS: Investing | U.S. Equity | Consumer Discretionary | Earnings | Consumer | Stocks

More from Consumer Discretionary

Penn National: Should Investors Put Their Chips Down?

Bruce Kamich
Jun 28, 2022 12:13 PM EDT

Let's check out the charts and indicators on this operator of casinos and racetracks.

I'm Warming Up to Carnival, but Not Ready to Climb Aboard Yet

Jonathan Heller
Jun 27, 2022 10:00 AM EDT

The stock price of a cruise line operator is becoming more reasonable, but its heavy debt load remains a huge concern.

There's No Clear Sailing Ahead for Carnival: Here's How to Play It

Stephen Guilfoyle
Jun 24, 2022 11:32 AM EDT

CCL did lose a lot of money, much more than anticipated, but there are positives.

Bearish Bets: 3 Well-Known Stocks You Should Consider Shorting This Week

Bob Lang
Jun 19, 2022 10:30 AM EDT

These recently downgraded names are displaying both quantitative and technical deterioration.

Beyond Meat Gives Investors Something to Chew On

Bruce Kamich
Jun 15, 2022 1:50 PM EDT

This veggie name is rallying sharply after a summer promotion announcement, but here's my beef with the charts.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 04:51 PM EDT PAUL PRICE

    We should be in for better starting soon.

    Window dressing tomorrow, the last day of ...
  • 11:56 AM EDT STEPHEN GUILFOYLE

    Stocks Under $10

    Check out what's going on in the Stocks Under $10 ...
  • 12:04 AM EDT PAUL PRICE

    Two Good Signs -- Especially for Small-Cap Investors

  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2022 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login