follow Patrick following
follow Patrick 2018 May 15, 5:28pm
550 views 1 comments
The company’s lackluster results last quarter added to concerns the U.S. housing market is slackening. Revenue trailed analysts’ estimates, although profit beat projections for the 16th-straight quarter. Shares fell as much as 2.6 percent, the most in more than a month.Home Depot’s fortunes are so tightly intertwined with the housing market that they are often viewed as a proxy for the sector. The rationale is simple: If Americans feel like their properties are rising in value, they’ll spend more fixing them up.But prices have been sagging in some parts of the U.S. and mortgage rates have risen.