"We are building on our distinct competitive advantages to capitalize on a large and fragmented market opportunity and extend our leadership position for years to come". Home Depot shares were marked 1.14% lower in early Wednesday trading following the guidance update to change hands at $213.21 each, a move that would leave the stock with an S&P 500 -lagging 24.17% gain for the year. "While we expect a modestly negative reaction to the updated guide today, the comp is in line with our existing 3.7% forecast and ultimately a lower bar given a new CFO and investment cycle are more prudent, in our view, especially after the past four quarters of choppier than historical comp outcomes relative to expectations," JPMorgan analysts said in a client note. "Hence, we are hoping to hear elements of conservatism in Home Depot's forecast, which we believe longer term investors will reward as the company's investment cycle is positioning Home Depot for share and long term top and bottom-line success," the bank added.