The stock market ended lower on Monday as investors digested a series of earnings report, with Alphabet (GOOG) and Tesla (TSLA) announcing mixed results. Such kicked off Big Tech earnings.
Overall, S&P 500 was down 0.2% to 5,556, while NASDAQ fell 0.1% to 17,997.
Tweet of the Day
$DELL isn't a true market leader when I consider the fundamentals. Here's profits (EPS) and profit estimates (e) for the upcoming year:
2019 $7.35
2020 $8.00
2021 $6.22
2022 $7.61
2023 $7.13
2024 $7.73eDoesn't fit the mold I'm looking for. https://t.co/JVkzRPxe0p
— David Sharek (@GrowthStockGuy) July 18, 2024
Chart of the Day
Here is the ten-year chart of Floor & Decor Holdings (FND) as of June 5, 2024, when the stock was at $120.
Flooring retailer Floor & Decor is still feeling the brunt of high mortgage rates, which are causing housing demand to remain low. Last quarter, the company reported a 30% decline in profit on a 2% decline in sales. Similarly, same-store sales growth declined 12%. Looking ahead, Floor & Decor said that there remains considerable uncertainty about the timing and slope of potential improvement in existing home sales and hard surface flooring spending in 2024 amid the rise in mortgage interest rates.
FND is part of the Growth Portfolio. Shares are doing well, even though the numbers look bad.
