Hello, friends and Fortune readers.
Lots of big economic news today, so lets dive right in. Here are five things you need to know in business news today:
1. Sun is shining on Home Depot
Both sales and income were up at the home improvement retail chain last quarter, beating analysts estimates. In a quarter with generally weak retail numbers, Home Depot seems to have bucked the trend. It was a strong spring rebound for the retailer, which also raised its full-year earnings forecast. Maybe people aren’t buying at other stores because they’re too busy building things?
2. Are you sitting comfortably?
Find out how your favorite recliner maker fared in its last quarter after the closed of trading today. Analysts expect La-Z-Boy to report earnings of $0.21 per share, which would be significantly down from $0.30 per share a year ago.
3. Google IPO-ed a decade ago today
Anniversaries are always special — and this one is no different. Sergey Brin and Larry Page will be giving each other tin today as they celebrate a decade since they took Google public in a Dutch auction. Now we have Google Glass and self-driving cars. Look for lots of retrospectives today.
4. Two pieces of economic data
Home construction jumped 15.7% in July to a 1.09 million rate, the highest in eight months. The consumer price index, meanwhile, barely moved, increasing by just .1% in July.
5. Steve Ballmer acts exactly like you’d expect him to
When he was introduced as the new team owner at an LA Clippers fan rally last night, former Microsoft CEO Steve Ballmer showed all the exuberance we expect of him: [youtube=http://www.youtube.com/watch?v=4U10FUI7W78&w=420&h=315]
