The Home Depot, Inc. Q4 Income Climbs, Beats estimates

The Home Depot, Inc. (HD) announced a profit for its fourth quarter that increased from the same period last year and beat the Street estimates.

The company’s earnings came in at $3.36 billion, or $3.30 per share. This compares with $3.35 billion, or $3.21 per share, in last year’s fourth quarter.

Analysts on average had expected the company to earn $3.28 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 0.3% to $35.83 billion from $35.72 billion last year.

The Home Depot, Inc. earnings at a glance (GAAP) :

-Earnings (Q4): $3.36 Bln. vs. $3.35 Bln. last year.
-EPS (Q4): $3.30 vs. $3.21 last year.
-Analyst Estimate: $3.28
-Revenue (Q4): $35.83 Bln vs. $35.72 Bln last year.

Pre-market Movers: OGEN, ARBK, MDXH, PLTR, FUSN…

The following are some of the stocks making big moves in Tuesday’s pre-market trading (as of 07.05 A.M. ET).

In the Green

Oragenics, Inc. (OGEN) is up over 31% at $8.33.
Argo Blockchain plc (ARBK) is up over 24% at $2.27.
MDxHealth SA (MDXH) is up over 22% at $4.40.
Palantir Technologies Inc. (PLTR) is up over 18% at $9.00.
Fusion Pharmaceuticals Inc. (FUSN) is up over 18% at $4.31.
Acer Therapeutics Inc. (ACER) is up over 18% at $2.56.
ZyVersa Therapeutics, Inc. (ZVSA) is up over 16% at $2.45.
SenesTech, Inc. (SNES) is up over 13% at $2.55.
Syneos Health, Inc. (SYNH) is up over 9% at $38.04.

In the Red

Guardforce AI Co., Limited (GFAI) is down over 15% at $13.17.
Outset Medical, Inc. (OM) is down over 10% at $25.39.
Blade Air Mobility, Inc. (BLDE) is down over 7% at $4.00.

European Economic News Preview: Bundesbank Monthly Report Due

A monthly report from Germany’s central bank is the only major data due on Monday, headlining a light day for the European economic news.

At 2.00 am ET, Statistics Sweden is scheduled to issue consumer prices for January. Consumer price inflation is forecast to ease to 11.8 percent from 12.3 percent in December.

At 4.00 am ET, industrial production, producer prices and employment figures are due from Poland. Industrial production is seen growing 4.3 percent annually in January after rising 1.0 percent in December. Economists forecast producer price inflation to slow to 18.5 percent from 20.4 percent a month ago.

At 5.00 am ET, Eurostat releases euro area construction output data for December.

At 6.00 am ET, Germany’s central bank is set to publish the February edition of the Monthly Report that comments on the economic situation during the winter 2022/23.

Ingersoll Rand Inc Q4 Profit Decreases, but beats estimates

Ingersoll Rand Inc (IR) revealed earnings for fourth quarter that decreased from last year but beat the Street estimates.

The company’s earnings came in at $217.4 million, or $0.53 per share. This compares with $293.0 million, or $0.71 per share, in last year’s fourth quarter.

Excluding items, Ingersoll Rand Inc reported adjusted earnings of $294.9 million or $0.72 per share for the period.

Analysts on average had expected the company to earn $0.62 per share, according to figures compiled by Thomson Reuters. Analysts’ estimates typically exclude special items.

The company’s revenue for the quarter rose 14.1% to $1.62 billion from $1.42 billion last year.

Ingersoll Rand Inc earnings at a glance (GAAP) :

-Earnings (Q4): $217.4 Mln. vs. $293.0 Mln. last year.
-EPS (Q4): $0.53 vs. $0.71 last year.
-Analyst Estimates: $0.62
-Revenue (Q4): $1.62 Bln vs. $1.42 Bln last year.

Oil Prices Mixed As Investors Await Fed Minutes

Oil prices traded mixed on Tuesday as investors shifted focus to the economic and rate outlook.

Benchmark Brent crude futures fell around 1 percent to $83.25 a barrel, while WTI crude futures were up 0.3 percent at $76.80.

The U.S. contract did not settle on Monday because of Presidents’ Day holiday.

The focus remains firmly on the Fed’s latest policy meeting minutes due to be released on Wednesday, after recent data and comments from several Federal Reserve officials raised the risk of interest rates remaining higher for longer.

Strength in the dollar, which hovered near a six-week high against a basket of currencies, also weighed on prices.

Rising tensions around the Russian-Ukraine war supported the dollar and dented demand for riskier assets.

China’s top diplomat, Wang Yi, is due to arrive in Moscow today on the one-year anniversary of its invasion of Ukraine, a day after U.S. President Joe Biden made a surprise visit to Ukraine to see President Zelenskiy.

U.S. Secretary of State Antony Blinken warned China against providing “lethal support” for Russia’s invasion of Ukraine and condemned the latest North Korean missile launch.

In his long-anticipated state-of-the-nation address, Russian President Vladimir Putin today blamed the West for starting the conflict in Ukraine, saying Western countries, led by the United States, were seeking “unlimited power” in world affairs.

Bundesbank Expects German Economy To Pick Up Gradually

Germany’s economy is set to fall again in the first quarter of this year but there would be a gradual pick up going forward, Bundesbank said in its monthly report on Monday.

The central bank said economic output is set to fall again in the first quarter. However, a gas shortage is no longer expected and the electricity and gas price brakes are reducing energy costs.

As tension on the energy markets eased significantly both corporate investment and industrial production would benefit from this.

“Things could slowly pick up again as the year progresses,” the bank said. “A significant improvement is not yet in sight.”

Official data released last month showed that the largest euro area economy logged a quarterly contraction of 0.2 percent, reversing the 0.5 percent expansion in the third quarter. Another fall in the first quarter of 2023 will push the economy into a technical recession.

Although inflation is likely to fall noticeably in the coming months, the underlying price pressure will probably weaken only slowly from its high level, the central bank said.

Underpinned by government subsidies on energy bills, Germany’s harmonized inflation eased to 9.2 percent in January from 9.6 percent in December. Likewise, Eurozone inflation slowed to an eight-month low of 8.5 percent in January from 9.2 percent a month ago.