Consumer Biz Recap: Home Sales a Positive Catalyst, Target’s Prospects
Shares of home improvement majors Home Depot (NYSE:HD) and Lowe’s (NYSE:LOW) move up in tandem, following the April existing home sales report that yielded optimism in that market. According to SA author Kraken, shares of the companies were priced for a recovery in the housing market, but that hasn’t quite occurred yet.
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Target (NYSE:TGT) executives at the Citi Global Consumer Conference comment on the company’s prospects, and shares go a bit higher. Estimates of fiscal year 2012’s earnings per share are reaffirmed at between $.60 and $4.80, but the focus was upon TGT’s intentions to launch 125 to 130 in the northern part of the U.S. in the new two years, which should accrete by 2014.
The United States Attorney’s office is looking into possible securities laws violations by Chipotle (NYSE:CMG), and shares slide in reaction. The company is already in trouble with the SEC over work authorization verification compliance matters.
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