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MarketWatch Logo Go to the homepage. Latest Watchlist Markets Investing Barron’s Economy Personal Finance Retirement Video Sign Up • Log In Home Latest News Watchlist Markets U.S. Markets Canada Europe & Middle East Asia Emerging Markets Latin America Market Data Investing Barron’s Best New Ideas Stocks IPOs Mutual Funds ETFs Options Bonds Commodities Currencies Cryptocurrencies Futures Financial Adviser Center Cannabis Barron’s Economy & Politics Capitol Report Trump Today Impeachment Inquiry Election 2020 The Federal Reserve Economic Report Rex Nutting Brexit U.S. Economic Calendar Tax Withholding Calculator Personal Finance Best New Ideas in Health The Moneyist Gifts That Pay Off Spending & Saving Retirement Taxes Credit Cards Careers Travel Real Estate Real Estate Listings Family Finance Love & Money Moneyish Retirement Best New Ideas in Retirement Estate Planning FIRE Taxes Social Security Real Estate Retirement Planner Where Should I Retire? 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Retirement Planner Sign Up Log In Profile Settings Email & Alerts Watchlist Games Dow -321.33 -1.15% S&P 500 -35.63 -1.10% Nasdaq -124.41 -1.35% US Europe Asia FX Rates Futures Crypto Range 1D 5D 1M 3M 6M 1Y 2Y Dow 27,639.47 -321.33 -1.15% S&P 500 3,190.26 -35.63 -1.10% Nasdaq 9,096.87 -124.41 -1.35% GlobalDow 3,096.88 -142.12 -4.39% Gold 1,658.90 -17.70 -1.06% Oil 50.62 -0.81 -1.57% S&P 500 Movers HPQ 8.2 KEYS 6.3 REGN 5.7 XRX 3.1 AAL -5.3 XEC -5.2 NVDA -5.2 M -4.6 Latest News All Times Eastern 11:14a Updated Stocks tumble Tuesday after suffering their worst day in two years 11:11a Updated Dow sinks more than 300 points to session low as 10-year Treasury rate hits record low at 1.321% 11:10a Barron’s The Brief, Feb. 25 11:04a Updated ‘I’m worried that my daughter would blow through her inheritance.’ My family has a trust fund worth $6 million. Should I keep this money a secret from my kids? 11:01a Updated Suze Orman says investors should ‘rejoice’ at the Dow’s more-than-1,000-point tumble on Monday — here’s why 11:00a Updated Consumer confidence running high at the start of 2020, hits biggest peak in 5 months 11:00a Here’s what’s worth streaming in March 2020: ‘Ozark,’ ‘Making the Cut,’ ‘Little Fires Everywhere’ and more 10:58a Updated Warren Buffett says ‘don’t buy or sell’ on the headlines as coronavirus puts stocks under pressure 10:58a Updated El-Erian says ‘continue to resist’ buying the stock-market dip after virus-inspired plunge 10:58a Updated The 10-year Treasury yield sets a new all-time low — here’s why to be replaced Latest News Best New Ideas in Health Coronavirus Update Tesla Apple Amazon AMD Microsoft Earnings Watch Home Depot Virgin Galactic Macy’s Lumber Liquidators Salesforce Stock-market bid to bounce back from worst session in two years runs aground Stock-market bid to bounce back from worst session in two years runs aground DJIA -1.16% SPX -1.23% COMP -1.35% El-Erian says ‘continue to resist’ buying the stock-market dip after virus-inspired plunge CNBC’s Jim Cramer on the coronavirus: We have lost containment and this could be worse than we thought Suze Orman says investors should ‘rejoice’ at the Dow’s 1,000-point tumble on Monday — here’s why Investors are ‘too complacent’ about the possibility of a pandemic, these analysts say Prepare now for the post-coronavirus bond market, this investor says The 10-year Treasury yield sets a new all-time low — here’s why Barron’s on MarketWatch: Wall Street’s willing to watch recovery rates and not panic about outbreak Coronavirus update: 80,238 cases, 2,700 deaths; United Airlines rescinds 2020 guidance over virus uncertainty Opinion: If the coronavirus isn’t contained, a severe global recession is almost certain Fears that the coronavirus will turn into a global economic pandemic are mounting Critic say it’s late and inadequate as White House seeks $2.5 billion in emergency funds to fight coronavirus Expedia to slash about 3,000 jobs in cost-cutting move: report Expedia Group Inc. will cut about 3,000 jobs, including around 500 at its Seattle headquarters, to reduce costs, Geekwire reported Monday. Geekwire obtained an internal email from Expedia announcing the layoffs, which add up to about 12% of its workforce. "We have been pursuing growth in an unhealthy and undisciplined way," the Expedia email said, according to Geekwire. "Today, we are announcing our intent to reduce and eliminate certain projects, activities, teams, and roles to streamline and focus our organization." In its quarterly earnings report earlier this month, Expedia said it expects between $300 million and $500 million in run-rate cost savings across its business this year, though it did not mention layoffs. Expedia shares were hammered Monday, falling 6.5%, but the job cuts do not appear related to coronavirus worries, although last week the online travel site said it expects a $30 million to $40 million impact on adjusted first-quarter EBITDA as a result of the outbreak. EXPE -2.02% Home Depot tops fourth-quarter earnings view and hikes dividend by 10% The Home Depot said fiscal fourth-quarter ending Feb. 2 net income rose 5.8% to $2.48 billion, or $2.28 a share, while sales fell 2.7% to $25.78 billion. Analysts polled by FactSet had forecast earnings of $2.11 a share on sales of $25.76 billion. The world’s largest home-improvement retailer said the extra week of operations in fiscal 2018 added $1.7 billion in sales, as comparable sales rose 5.2%. For fiscal 2020, Home Depot forecasts EPS of $10.45, sales growth between 3.5% and 4%, and comparable sales growth between 3.5% and 4%. Analysts had forecasted 2020 EPS of $10.51. Home Depot hiked its dividend by 10% to $1.50 a share. Tupperware plunges toward record low after profit warning, accounting probe and need for covenant relief Shares of Tupperware Brands Corp. plunged 21% toward a record low in premarket trading Tuesday, after the household and personal care products company warned of a 2019 profit shortfall, said it was conducting an investigation in its financial accounting and that it expected to need "relief" from a leverage ratio covenant. The company said late Monday that it expects 2019 net earnings per share in the range of breakeven to 34 cents, down from $3.11 a year ago, and adjusted EPS of $1.35 to $1.70, which is below the FactSet consensus of $2.79. The company said results were affected by "financial reporting issues" in Fuller Mexico, of which the company has launched an investigation into the accounting for accounts payable and accrued liabilities. The company estimates that the total pre-tax impact for 2019 to be about $50 million to $52 million. Separately, the company said it is forecasting the need for relief from the covenant in its $650 million credit agreement, to avoid potential acceleration of the debt, which would have "a material adverse impact on the company." The company said it has received approvals, pending final documentation, from participating banks. The stock has plunged 35.2% over the past three months through Monday, while the S&P 500 has gained 2.9%. Macy’s shares jump after earnings beat driven by strong holiday sales Macy’s Inc. shares rose 5.8% in premarket trade Tuesday, after the company beat estimates for the fourth quarter and stuck with guidance for 2020. The company said it had net income of $340 million, or $1.09 a share, in the quarter, down from $740 million, or $2.37 a share, in the year-earlier...
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