Blue chip stocks are the shares of large, well-established companies that have a history of strong performance and are considered to be some of the safest investments in the stock market. Blue chip stocks are often the first choice for conservative investors who want to build a solid foundation for their portfolio.

While they may not offer the highest potential returns, blue chip stocks are typically less volatile than small-cap stocks and can offer a steadier growth potential. As a result, blue chip stocks can be an excellent way to diversify your portfolio and reduce your overall risk. If this has you keen on investing in blue-chip stocks, here are two that reported earnings in the stock market today.

Blue Chip Stocks To Buy [Or Sell] Today

Walmart (WMT Stock)

First up, Walmart Inc. (WMT) is an American multinational retail corporation that operates a chain of hypermarkets, discount department stores, and grocery stores. For a sense of scale, at the end of the fiscal year 2022, the company operates more than 10,500 stores under 46 banners, selling a variety of general merchandise and grocery items.

WMT Recent Stock News

This morning, Walmart reported better-than-expected third-quarter 2023 financial results. In the report, the company reported earnings of $1.50 per share and revenue of $152.8 billion for Q3 2023. This is compared to the Street’s consensus estimates for the quarter which were earnings of $1.32 per share, and revenue estimates of $147.3 billion. What’s more, these revenue figures represent an 8.7% increase compared to the same period, a year prior.

In addition, Walmart President & CEO Doug McMillon commented, “We had a good quarter with strong top-line growth globally led by Walmart and Sam’s Club U.S., along with Flipkart and Walmex. Walmart U.S. continued to gain market share in grocery, helped by unit growth in our food business. We significantly improved our inventory position in Q3, and we’ll continue to make progress as we end the year.

WMT Stock Chart

Following the release of these financial results, shares of WMT stock are gaining in Tuesday’s pre-market trading session by 6.94% at $148 a share.

Walmart stock
Source: TD Ameritrade TOS

[Read More] 2 Healthcare Stocks To Watch In November 2022

Home Depot (HD Stock)

Next up, Home Depot (HD) is the largest home improvement specialty retailer worldwide. The company operates more than 2,300 warehouse-format stores offering more than 30,000 products in-store and 1 million products online throughout the U.S, Canada, and Mexico.

HD Recent Stock News

Also this morning, Home Depot reported a beat for its Q3 2022 financial results. In detail, the retailer reported earnings of $4.24 per share, along with revenue of $38.9 billion for Q3 2022. For clarity, Wall Street’s consensus estimates for Q3 2022 were earnings of $4.11 per share and revenue of $37.9 billion. Additionally, Home Depot reaffirmed its fiscal 2022 outlook.

Furthermore, Ted Decker, Chair, President, and CEO said, “We delivered another solid performance in the third quarter, driven by strength in project-related categories across the business. Our team has done a fantastic job serving our customers while continuing to navigate a challenging and dynamic environment. I would like to thank them and our many partners for their hard work and dedication to our customers.

HD Stock Chart

During Tuesday pre-market’s trading session, shares of HD stock are trading modestly higher at around $307.20 a share.

HD stock chart
Source: TD Ameritrade TOS

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