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Home Depot cuts 2007 outlook
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This Link is located in the Public Channel Housing Bubble and Bear Links.
Posted by ian 2 years 254 days ago (marketwatch.com).
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Home Depot Inc. lowered its 2007 profit forecast Tuesday, hit by a weakening U.S. housing market that is hurting earnings more than anticipated just two months ago. Home Depot said it expects adjusted earnings per share for the year to drop from 15% to 18%. In May, Home Depot thought income would fall 15%, based mostly on the mistaken belief that the housing market would see some improvement in the second half of the year.
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