The Home Depot, Inc. (NYSE:HD) is one of the stocks Jim Cramer recently offered insights on. Cramer said that the company’s performance is dependant on whether the Fed cuts rate during the next meeting or not, as he commented:
“On Tuesday, we kicked things off with Home Depot, and that was an inauspicious start. The despot posted a tiny sales beat, but both its earnings and the same-store sales came in softer than expected, and the stock plunged 6% in response. Ouch. Worse, Home Depot cut its full-year forecast for both comparable sales growth and earnings. There’s a tough set of numbers, no way around it.
A stock market chart. Photo by Arturo A on Pexels
The Home Depot, Inc. (NYSE:HD) is a home improvement retailer that sells tools, building materials, and decor. It also provides installation and equipment rental services.
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Disclosure: None. This article is originally published at Insider Monkey.