Home Depot Inc. stock took the largest midday decline on the Dow Jones industrial average Tuesday, as record oil prices and greater inflation sent the blue-chip index down 203.22 points, or 1.56 percent, to 12,824.94.
Home Depot reported its fiscal first-quarter results Tuesday. Its revenue came up short of analyst expectations as sales at older stores shrank, and the company suggested it will reach the low end of its forecast of a 4 to 5 percent decrease in revenue. The stock lost $1.45, or 5 percent, to $27.42.
Shares of aluminum maker Alcoa Inc. fell $1.77 or 4 percent, to $42.82.
Automaker General Motors Corp. shed 78 cents, or 3.7 percent, to $20.09.
Shares of chip maker Intel Corp. were down 87 cents, or 3.5 percent, to $24.01.
American Express Co. stock slipped $1.53, or 3.2 percent, to $47.03. Oppenheimer analyst Meredith Whitney trimmed her 2009 profit estimate for the credit card issuer to $3.45 per share, matching her 2008 estimate, from $3.60.
Only one of the 30 Dow stocks moved up at midday. Oil company Chevron Corp. picked up 35 cents to $102.55, and reached an all-time high of $103.08.
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