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Home Depot's Q1 2023 Earnings Beat Expectations, Lowers Guidance; Baidu Surpasses Estimates, Allot Falls Short of Consensus, VivoPower Partners for EV Solutions

  • May 16th, 2023
  • 459 views

The Home Depot, Inc. (NYSE: HD) has released its financial report for the first quarter of fiscal 2023, revealing that its earnings per share (EPS) stood at $3.82, slightly surpassing the consensus estimate of $3.80. 

However, the company faced challenges during the quarter, including the negative impact of lumber deflation and weather conditions, as well as a softening of demand beyond the company's expectations. Ongoing uncertainty regarding consumer demand also contributed to the company's revised guidance for fiscal 2023. The updated guidance indicates that sales and comparable sales are expected to decline between 2% and 5%, while diluted earnings per share are projected to decline between 7% and 13% compared to fiscal 2022. 

In pre-market trading, $HD is currently valued at $275.00, experiencing a decrease of $13.54 (-4.69%).

In other news, Baidu, Inc. (Nasdaq: BIDU) has reported its earnings per share (EPS) for the first quarter of 2023. The company's EPS reached $2.34, surpassing the consensus estimate of $1.79. This positive performance has contributed to an increase in pre-market trading, with $BIDU currently trading at $130.28, showing a rise of $2.67 (+2.09%).

Similarly, Allot Ltd. (Nasdaq: ALLT) has released its financial results for the first quarter, disclosing a loss of $0.21 per share. While this falls short of the consensus estimate loss of $0.18 per share, $ALLT has experienced a positive shift in pre-market trading, with a current value of $2.88, reflecting an increase of $0.08 (+2.86%).

Meanwhile, VivoPower International PLC (Nasdaq: VVPR) has entered into a definitive partnership agreement to market and distribute Vital EV Solutions fleet charging solutions worldwide. 

Under the agreement, VivoPower will have the opportunity to provide its customers and partners with an extensive range of EV fleet charging products and services from Vital EV and Kempower for an initial period of three years. As a result, $VVPR has surged in pre-market trading, currently trading at $0.79, displaying a significant increase of $0.33 (+72.92%).

 

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY OR DIGITAL ASSET. Please consult with a professional investment advisor before purchasing or selling any securities viewed on or mentioned herein. (Read Full Disclaimer)

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