Pre-Market Movers: Home Depot (NYSE:HD), GE (NYSE:GE), Sierra Wireless (NASDAQ:SWIR)

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Home Depot (NYSE:HD) reported Q4 sales shy of expectations Tuesday morning while also beating on EPS and hiking its dividend. Home Depot has just favored a long-term reversal pattern between the sessions, cutting back or reversing course in the following regular sessions after 20 of the last 36 pre-market earnings events we’ve tracked. Looking deeper into the performance data, HD is recently favoring the long side in adding to its earnings-driven pre-market gains in the follow-on regular session. In 24 quarters of the 36 we’ve tracked, the stock recorded a pre-market advance. In 12 of those quarters, 50% of the time, the stock has added to its gains in the following regular session. On the downside, HD is about mixed, recording 12 quarters where it has seen an earnings-driven pre-market decline, adding to its downside six times and narrowing its declines six times in the following regular session.

Diversified technology and financial services giant General Electric Company (NYSE:GE) says its GE Energy Financial Services unit has bought 2 wind farm construction projects in Ireland that will be powered by its flagship 2.85 MW wind turbines. The projects were acquired from Element Power for an undisclosed amount. The wind farms have a combined capacity of 51 MW and will produce power for thousands of homes in Ireland. GE is up 0.4% in the pre-market session.

Wireless technology company Sierra Wireless, Inc. (NASDAQ:SWIR) has teamed up with system integrator Tech Mahindra to develop end-to-end M2M (machine-to-machine) solutions. As agreed, SWIR’s device-to-cloud offerings will be integrated with Tech Mahindra’s system integration and application development knowledge to create wireless technology solutions that will be deployed globally. SWIR was up 0.1% in the after-hours market Monday.

Office Depot (NYSE:ODP) reported a Q4 loss of $0.03 per share, missing expectations of a profit of $0.04 per share, according to analysts polled by Capital IQ. Sales were $3.5 billion, below expectations of $4.19 billion. For 2014, the company said market trends are expected to remain challenging across its product lines and distribution channels. Consequently, Office Depot expects total company sales to be lower than 2013 pro forma combined sales. The Street view is $16.34 billion. The expense deleverage from lower sales is expected to offset some of the merger synergies and operating improvements anticipated during the year. The company expects to generate adjusted operating income of not less than $140 million.

 

 

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