Home Depot Earnings Up, JC Penney Earnings Down

Home Depot Earnings Up JC Penney Earnings DownHome Depot investors received pleasant news on Monday when stock for the home improvement store soared. The company’s earnings rose by a better than expected 17 percent, which resulted in the retailer raising its outlook for the remainder of the year. The housing market recovery gets significant credit for the home improvement store’s increase in sales, according to experts.

Home Depot stock is up .64 percent or 48 cents to reach $75.69 on Tuesday morning. The company, founded in 1978, is headquartered in Atlanta, Ga.

JC Penney posted another significant loss, but it wasn’t as bad as expected so the company’s stock is set to rally, according to experts. As of Tuesday morning, most people apparently felt the loss not being as bad as predicted was positive, so shares were up .86 cents or 6.51 percent to reach $14.08. Founded in 1902 in Kemmerer, Wyo., the company’s headquarters are in Plano, Tex.

Best Buy shares are set to soar after its earnings exceeded expectations. The company, founded in Minnesota in 1966, saw a jump in shares of 10.35 percent, or $3.18, climbing to $33.91. With headquarters in Richfield, Minn., it has operations in Puerto Rico, Canada, Mexico and China as well.

Urban Outfitters, a teen oriented retailer, topped expectations with a 25 percent earnings gain. Urban Outfitters, founded in 1970, is headquartered in Philadelphia, Pa. Shares are up $3.73 or 9.34 percent to reach $43.65.

Barnes & Noble is set to release earnings on Tuesday. The company has reached an agreement with Simon & Schuster, which is CBS’s publishing unit. The two companies have been in a battle over the financial terms on a variety of issues, including e-books and in-store promotions. As a result, Barnes & Noble’s bookstore chain had limited the number of Simon & Schuster titles it had available in its stores.

Barnes & Noble shares dropped 12.78 percent, or $2.13 on Tuesday morning, falling to $14.54. Headquartered in New York City, the company was founded in Wheaton, Ill.

Overstock.com, the struggling online retailer, has announced it will permanently match Amazon.com book prices in an effort to regain some footing. In addition, Overstock has announced it will offer a 15 percent rebate on books to its loyalty club members.

Overstock.com shares saw no change on Tuesday morning, still setting at $29.53 each. Founded in 1997, the company is headquartered in Salt Lake City, Utah.

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About the author

Kristin covers health, science and internet news.