Home Depot, 23andMe, Tencent Music et plus – .

Home Depot, 23andMe, Tencent Music et plus – .

Find out which companies are making the midday headlines.
Home Depot – Shares of the home improvement retailer fell more than 4% after the release of second quarter results. Comparable store sales were lower than expected, however, increasing 4.5% from StreetAccount’s consensus estimate of 5%. However, Home Depot earned $ 4.53 per share, 9 cents per share above estimates. Revenue also exceeded expectations.

23andMe – Shares of 23andMe jumped more than 14% at midday after Credit Suisse launched stock hedging with an outperformance rating, saying in a note to clients that the database of the company would be hard to match for pharmaceutical research.

Walmart – The big-box retailer’s share price rose about 0.2% after reporting second-quarter profits above analyst estimates. The retailer gained ground in the grocery store and announced a good start to the back-to-school season.

Tencent Music – Tencent Music shares fell about 13% after the online music entertainment platform fell short of second-quarter revenue expectations. The company reported sales of 8.01 billion Chinese yuan, compared to 8.13 billion expected by Chinese yuan analysts polled by Refinitiv.

Endeavor Group Holdings – Shares of the company jumped about 9% after the entertainment group beat earnings estimates in the second quarter. Endeavor posted a profit of 19 cents on an adjusted basis, while analysts expected a loss of 2 cents per share. Income, however, was slightly below estimates. The company has also raised its revenue forecast for the full year due to growing demand for in-person events.

Roblox – Shares of the video game company fell nearly 2% after Roblox’s second quarter bookings fell below expectations. The company said $ 665 million for the revenue measure, while analysts polled by Refinitiv expected $ 683 million. However, Roblox estimated that daily active users increased 8% from June to July, and bookings increased 10% to 11% during the same period.

Stanley Black & Decker – The toolmaker’s shares fell around 3% by noon after announcing Tuesday morning that it had struck a deal with MTD Holdings, the supplier of outdoor electrical equipment, to increase its stake in the company for $ 1.6 billion in cash. Stanley Black & Decker has held a 20% stake in MTD since 2019 and will acquire the remaining 80% that it does not already own.

– with reporting from CNBC’s PIppa Stevens, Jesse Pound, Tanaya Macheel and Hannah Miao.


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