On this edition of Stock Movers:
- Home Depot (HD) shares rise today after the company's sales returned to growth in the second quarter as shoppers invested in smaller projects, such as lighting and gardening. The world’s largest home-improvement retailer said comparable sales grew 1% in the quarter, modestly below what analysts had estimated but an improvement from a 3.3% slump a year ago. “These may be shallow gains, but they show a material strengthening over the last quarter and provide confidence that the slump in home improvement is finally over,” GlobalData analyst Neil Saunders wrote in a note.
- Intel (INTC) shares are higher today after Softbank agreed to take a $2 billion stake in the chipmaker. That's after a report that the Trump administration is in discussions to take a stake of about 10% in Intel, possibly by converting grants made to the company under the US Chips and Science Act into equity. That could allow Intel to tap about $10 billion in capital as Tan works out a strategy for revival.
- Nvidia (NVDA) shares fell today, which is one of the biggest casualties of the tech selloff today. The company is reporting second quarter earnings next week, with analysts expecting earnings growth of 44% and a 53% surge in revenue to $45.9 billion.
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