Home Depot raises EPS outlook

ATLANTA The Home Depot announced today that upon completing a tender offer, in which the company accepted for purchase 289,331,314 shares of its common stock at a price of 37 cents per share, for a total cost of $10.7 billion, it has updated its guidance for diluted earnings per share to decline 7% to 9 %. The company's original guidance called for diluted earnings per share to decline 12% to 15%.

"We are pleased to successfully complete the tender offer, which brings us almost halfway to fulfilling our $22.5 billion recapitalization plan," said Frank Blake, chairman and ceo. "We continue to evaluate financial market conditions and will execute the rest of the plan as soon as practicable."