(Reuters) – A recovery in the U.S. housing market helped Home Depot Inc (HD.N: Quote, Profile, Research, Stock Buzz) top profit and sales estimates for the third quarter, prompting the No. 1 home improvement chain to raise its fiscal-year outlook for the third time this year on Tuesday.
The results boosted its shares by 3.2 percent and gave fresh evidence the U.S. housing market continued to heal after years of weakness. A bubble in the sector was at the core of the 2007-2009 financial crisis.
(Reuters) – Best Buy Co Inc (BBY.N: Quote, Profile, Research, Stock Buzz) warned of an increasingly promotional environment heading into the holidays and promised to be competitive on price in the biggest selling season of the year, raising concerns about margins in the fourth quarter.
Earlier on Tuesday, discounter Wal-Mart Stores Inc (WMT.N: Quote, Profile, Research, Stock Buzz) announced it will match select Black Friday offers on toys and electronic items from rivals Target Corp (TGT.N: Quote, Profile, Research, Stock Buzz), Toys R Us Inc TOYS.UL and Best Buy starting as early as a week before the big shopping day.