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Home Depot, Coach, Snap, Advance Auto Parts

What's moving the dial in pre-market deals in New York? Proactive takes a look

Stock market
What's moving the dial in pre-market deals in New York?

With US shares set for a further rally on Tuesday according to futures, several stocks are in play in pre-market deals, including retailer Home Depot Inc (NYSE:HD).

Before the bell, the group reported its highest quarterly revenue in history at US$28.11bn versus an estimate of US$27.84bn.

Same-store sales sailed past Wall Street expectations, while net income for the second quarter grew to US$2.7bn, or US$2.25 per share, compared to US$2.4bn, or US$1.97 a share, a year ago. Homew Deppt shares shed 2.65% on the day.

Elsewhere, Coach Inc (NYSE:COH), the handbag and accessories maker, shed almost 8% in pre-market trade to US$44.07 and later shed over 15% as revenue for the latest quarter was below forecasts.

Coach's full-year earnings and revenue guidance were both below forecasts, and shares fell.

 

On another day of big earnings reports, shares in Advance Auto Parts Inc (NYSE: AAP) slumped almost 15% to US$93.29 as it posted weaker-than-expected profit for the second quarter.

The aftermarket car parts manufacturer revealed it had net income of US$87.0mln, or US$1.17 a share, in the quarter, down from US$124.6mln, or US$1.68 a share, in the same period of 2016. In the regular session, shares tanked over 20%.

Go Pro Inc (NASDAQ:GPRO) shares gained 3.7% to US$10.10 as the stock received an upgrade from broker heavyweight Goldman Sachs as analysts view its upcoming launch of a new Hero camera as a potential catalyst for the shares. In Tuesday's session shares gained 1.44%

Snap Inc (NYSE:SNAP) shares were also on the move in early deals, adding 3.81% to US$12.60 after London broker Cantor Fitzgerald upgraded the stock to 'overweight' from 'neutral'. Shares added 1.11% to $12.74 on Tuesday.

Quick facts: Home Depot Inc

Price: 281.16 USD

NYSE:HD
Market: NYSE
Market Cap: $302.66 billion
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