Text size

Stocks were falling sharply Tuesday after disappointing guidance from retail giants Home Depot and Walmart, and as Wall Street remains concerned the Federal Reserve could leave interest rates higher for longer because of sticky inflation.

These stocks were making moves Tuesday:

Home-improvement giant Home Depot (HD) reported fourth-quarter earnings of $3.30 a share, beating analysts’ estimates by 2 cents. Sales rose 0.3% in the quarter to $35.8 billion but missed forecasts.

Home Depot

said it expects fiscal 2023 sales flat compared with fiscal 2022. The stock fell 5.2%.

Home Depot competitor

Lowe’s

(LOW) dropped 5.1%. The company is expected to report earnings on March 1.

Walmart (ticker: WMT) shares gained 0.2% after the world’s largest retailer issued earnings guidance for fiscal 2024 below analysts’ expectations.

Dillard’s

(DDS) was down 9.5% even after the department-store chain reported a 5% increase in total retail sales year over year.

DocuSign

(DOCU) fell 7.4% after shares of the electronic-signature company were downgraded to Sell from Neutral by analysts at UBS.

Molson Coors Beverage

(TAP) jumped 4.6% after the beer brewer posted fourth-quarter earnings per share that beat expectations.

AutoNation

(AN) fell 3.8% after the stock was downgraded to Underweight from Neutral at J.P. Morgan. The stock rose more than 11% on Friday after the car seller reported fourth-quarter earnings that beat analysts’ expectations.

General Mills

(GIS) rose 3.3% after the owner of Betty Crocker and Nature Valley said it expects adjusted earnings per share growth of 7% to 8% in constant currency.

Meta Platforms (META) will be rolling out a monthly Twitter-like subscription tier for Facebook and Instagram that will assign blue badges to individuals who pay to verify their accounts. The service, called Meta Verified, will cost $11.99 a month for internet users and $14.99 on Apple’s iOS. Subscribers, who submit a government ID to be verified, get prioritization in other people’s comments, exclusive stickers for Instagram stories, and recommendations in Reels. Meta shares were rising 1.8%.

Vir Biotechnology

(VIR) jumped 8.5% after the company was upgraded to Buy from Neutral by analysts at Goldman Sachs.

Medtronic

(MDT) rose 1% after the medical device maker posted adjusted earnings for its third quarter that beat expectations.

Companies reporting results after the closing bell Tuesday include

Coinbase

(COIN),

Palo Alto Networks

(PANW),

Toll Brothers

(TOL) and

Caesars Entertainment

(CZR).

Write to Joe Woelfel at [email protected]