Home Depot: The home-improvement retailer surpassed Wall Street’s reduced earnings projections on Tuesday, but indicated an anticipated decline of approximately 1% in comparable store sales for fiscal 2024.
Home Depot’s shares remained unchanged. “The report was a ‘big surprise,'” remarked Jim Cramer. “I thought the professional was there because of the repair [and] remodel business, and it looks like that was overstated.”
Walmart: The largest U.S. retailer disclosed robust performance for the holiday quarter on Tuesday, with sales climbing 6% for the three months ending Jan. 31. Moreover, its full-year sales forecast fell within analysts’ expectations range.
Jim highlighted his upcoming interview with Walmart CEO Doug McMillon on CNBC’s “Mad Money” later in the day. Walmart, he asserted, is an “inflation fighter.”
Roku: Shares of the smart TV manufacturer and streaming service provider experienced a nearly 6% decline on Tuesday. This dip followed Walmart’s announcement of a $2.3 billion deal to acquire TV manufacturer Vizio.
“I would point out, just so people know,” remarked Jim, “that Walmart says the deal is slightly dilutive to near-term earnings per share, ‘which surprised me.’ I thought it would be additive.”
Intel: Shares of the California-based chipmaker surged over 1% amid reports suggesting it could soon receive over $10 billion in U.S. government subsidies linked to the 2022 Chips and Science Act. “They can get $50 billion, it doesn’t matter. They are so far behind AMD now. I mean, please,” Jim commented.
Capital One: The company revealed on Monday an all-stock agreement, valued at $35.3 billion, to acquire credit card competitor Discover Financial Services.
“Buried within Discover is a payments system that may be unrivaled, that [Capital One CEO] Richard Fairbank can put to work,” Jim noted, reiterating his recommendation to purchase Capital One stock amid Tuesday’s decline.
