Why Macy’s, Potash Corporation, Home Depot, and Two Other Stocks Are on the Move Today

Home Depot Gets an Upgrade

Home Depot Inc (NYSE:HD) shares are in the green today after Nomura analyst Jessica Schoen Mace upgraded the stock to ‘Buy’ from ‘Neutral’ and raised her price target to $155 from $140. Mace likes Home Depot’s competitive advantages, strong management team, and solid underlying market. Mace thinks the retailer will make $6.33 in EPS in 2016, up from the previous $6.30 per share. At the end of March, 74 funds in our database were long Home Depot Inc (NYSE:HD) at the end of March, up by 12 funds from the previous quarter.

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Barnes & Noble Reports Earnings

Barnes & Noble, Inc. (NYSE:BKS)’s shares have surged by over 8% so far today after the book retailer reported a loss of $0.24 per share on revenue of $876.68 million for its fiscal fourth quarter. The bottom-line results are in-line with analyst estimates while the top-line results missed the expectations by $12.51 million. Core comparable store sales inched up by 0.4%, while full year-comparable store sales were flat. Adjusted fiscal 2016 consolidated net earnings from continuing operations amounted to $0.35 per share. The company expects between $200 million and $250 million in full year consolidated EBITDA for fiscal year 2017. A total of 21 funds tracked by us had a bullish position in Barnes & Noble, Inc. (NYSE:BKS) at the end of March.

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