📊 PRO: This Week in Visuals
HD, INTU, ADI, PANW, SNOW, SNPS, WDAY, NTES, ZM, PTON
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Today at a glance:
👷 Home Depot: Consumer Slowdown
✅ Intuit: Strong FY25 Outlook
⚙️ Analog Devices: Order Momentum
🔒 Palo Alto Networks: AI-Fueled Growth
❄️ Snowflake: Not Good Enough
🧠 Synopsys: Steady Growth Ahead
👔 Workday: Profit Focus
🎮 NetEase: Mixed Quarter
💻 Zoom: Record Low Churn
🚲 Peloton: Turnaround Progress
1. 👷 Home Depot: Consumer Slowdown
Home Depot’s 10-Q filing earlier this week revealed a revenue decline across all categories. The company lowered its full-year comparable sales guidance to a 3% to 4% decline (previously 1%), citing a more pronounced consumer spending slowdown than anticipated. Higher interest rates and economic uncertainty are causing consumers to delay discretionary home improvement projects, impacting demand for the company's products and services.
Despite beating earnings and net sales expectations in Q2, comparable store sales dropped by 3.3%, with average ticket and transactions declining. Management is optimistic about the long-term potential of its recent $18 billion acquisition of SRS Distribution, a building products and roofing materials distributor (see the new “Other” segment). However, the current economic headwinds present a challenge for growth in the near term.