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Photo: Alan Diaz / AP

Home Depot earned $2.7 billion in the third quarter, while same-store sales rose 7.9%, beating analysts expectations and sending shares in the company rising, Reuters reports.

The hurricane effect: Home Depot says that hurricane recovery efforts added $282 million to same-store sales, helping it to surpass Wall Street's forecasts.

Why it matters: Home Depot's success of late — the stock is up more than 23% this year and more than 166% since 2012 — can be attributed in part to the fact that its business is resistant to online competition, as the firm sells heavy and bulky items that are difficult to profitably ship to individual customers. It has also benefitted from a robust recovery of home prices over the past five years, which creates incentive for homeowners to invest in repairs and renovations.

Go deeper

Biden administration seeks to allow separated migrant families to reunite in U.S.

Secretary of the Department of Homeland Security Alejandro Mayorkas announced Monday that the Biden administration will explore "lawful pathways" to allow migrant families separated under the Trump administration to reunite in the U.S.

Why it matters: Biden has pledged to reunite the hundreds of families still separated as a result of the Trump administration's "zero tolerance" policy, and signed an executive order last month creating a family separation task force chaired by Mayorkas.

CDC director warns "now is not the time" to lift COVID restrictions

CDC director Rochelle Walensky warned states on Monday that "now is not the time" to lift public health restrictions, as the recent dramatic declines in coronavirus cases and deaths "appear to be stalling."

Why it matters: While the average of 70,000 new infections and 2,000 daily deaths is nowhere near the extremely high levels recorded at the start of 2021, the figures are still a poor baseline to "stop a potential fourth surge" — especially with the threat posed by more contagious new variants, Walensky warned.

Sen. Elizabeth Warren introduces "ultra-millionaire" wealth tax bill

Photo: Greg Nash-Pool/Getty Images

Sen. Elizabeth Warren (D-Mass.) on Monday introduced a bill in the Senate that would impose a new tax on the assets of America's wealthiest individuals.

Why it matters: The plan, which Warren introduced along with Reps. Pramila Jayapal (D-Wash.) and Brendan Boyle (D-Pa.) is similar to a proposal that was the centerpiece of Warren's campaign for the presidency in 2020.