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Home Depot, FTC blocks Amgen deal, Comcast's Hulu stake: Tuesday's top headlines

Yahoo Finance

The Yahoo Finance Live team breaks down Tuesday's biggest stories, including Home Depot earnings report, the FTC suing to block Amgen's deal to buy Horizon Therapeutics, and Comcast's talks to sell its Hulu stake to Disney.

Video transcript

- Well, it is closing time here at Yahoo Finance. Let's get you caught up on some of the biggest stories of the day. Home Depot reporting a revenue miss in the first quarter and cutting its outlook over concerns about consumers pulling back on spending. The home improvement retailer blamed, in part, lumber deflation and unfavorable weather for the sales decline. Home Depot shares ended the day slightly lower, down about 2% there.

Meantime, the FTC is suing to block Amgen's $27.8 billion deal to buy Horizon Therapeutics. In its announcement, the agency says Amgen would be able to leverage its ability to, quote, "pressure insurance companies and pharmacy benefit managers into favoring Horizon's two monopoly products" end quote. Both companies issued statements where they disagreed with the FTC and reiterated their commitment to completing the deal.

And finally, Comcast CEO Brian Roberts says it's more likely than not his company will sell its stake in Hulu to Disney. Due to an agreement between the two companies, Comcast could require Disney to buy out its Hulu stake as early as January of next year. But on the Disney earnings call, CEO Bob Iger said, it's not really been fully determined what will happen with the stake when that deadline arrives.