On this episode of Stock Movers:
- Home Depot (HD) shares are lower after sales metric disappointed in the latest quarter, a sign that consumers are staying away from big purchases as interest rates remain high and inflation uncertainties linger. CFO Richard McPhail said consumers are increasingly taking on small projects, but larger projects remain on hold as rates remain elevated and economic uncertainty persists.
- Medtronic (MDT) is lower after it reported profit that beat estimates and lifted full-year earnings guidance after lowering its forecast for tariff costs. CEO Geoffrey Martha said “We’re confident and well positioned to accelerate our revenue growth in the second half of our fiscal year” in a statement.
- Intel (INTC) is higher after it was reported by Bloomberg that the Trump administration is in discussions to take a stake of about 10% in Intel Corp. by converting grants made under the US Chips and Science Act into equity. The US government and SoftBank Group Corp. see potential for a turnaround at Intel, with the government valuing the company's manufacturing prowess and SoftBank valuing its chip design operations.
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