Home Depot and Medtronic jump on earnings, Kohl's takes a hit

It was a good day for Home Depot as the home improvement of the stock rose more than 4% on stronger-than-expected earnings. The company posted on Tuesday a profit of $ 3.17 per share while analysts polled by Refinitv expected earnings per share of $ 3.08.

Craig Menear CEO highlighted momentum from the company's "strategic investments" in the company's quarterly report. He added that "the current health of the U.S. consumer and stable housing environment continues to support our business."

Home Depot's better-than-forecast profit was enough for investors to look at the company's weaker-than-expected revenue. The company generated $ 30,839 billion in revenue for the previous quarter. Analysts expected sales to come in at $ 30,985 billion, according to Refinitiv.

Home Depot pointed to weaker lumber prices as one of the reasons for the disappointing sales numbers. Lumber futures are down about 16% since February. Lumber sales account for 8% of Home Depot's total sales.

The company also cuts its income for the year, citing worries over U.S. tariffs on Chinese goods.

Read the full earnings report here.

Kohl's shares were hit to the tune of 5% after reporting a bigger-than-forecast decline in same-store sales, a key metric for retailers. The company said same-store sales by 2.9% in the second quarter. Analysts polled by Refinitv has a decline of 2.5%.

Still, Michelle Gass CEO noted same-store sales for the second quarter improved from the first quarter. She added "The company is coming up with its upcoming program, expansions, and increased traffic from the Amazon returns program will incrementally contribute to our performance during the balance of the year and beyond."

Kohl's has fallen sharply this year. The stock has lost more than 30% of its value in 2019 and has plunged 27% over the past three months.

Read the full earnings report here.

The medical devices maker reported better-than-expected quarterly results, which is one of the biggest gains in a year.

Medtronic reported earnings per share of $ 1.26 on revenue of $ 7.493 billion. Wall Street analysts expected a profit of $ 1.18 per share on sales of $ 7.396 billion.

The company's sales to all of its divisions, including cardiac and vascular devices, which raked in $ 2.79 billion in the quarter.

Medtronic has had a stellar year thus far. The stock is up more than 18% in 2019 and has exceeded 23% over the past three months.

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