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5 Things to Know Before the Stock Market Opens
- * Positive Performance: Lowe's shares are up after reporting strong third-quarter profits.
- * Lowe's success is highlighted in contrast to Home Depot, whose profits fell short of expectations the previous day.
- * Negative Performance: Target shares are down after reporting third-quarter revenue below estimates.
Hear’s a summary of the key data from the provided text:
Lowe’s:
* Positive Performance: Lowe’s shares are up after reporting strong third-quarter profits.
* Earnings: EPS was $3.06, exceeding expectations (up from $2.89 year-over-year).
* Sales: $20.81 billion, roughly in line with expectations.
* Outlook: Increased full-year sales outlook to $86 billion and EPS forecast to $12.25.
* Reasons for Shift: Macroeconomic uncertainty and the impact of the Foundation Building Materials acquisition.
* Stock Movement: Up over 5% in premarket trading.
Home Depot (Context):
* Lowe’s success is highlighted in contrast to Home Depot, whose profits fell short of expectations the previous day.
Target:
* Negative Performance: Target shares are down after reporting third-quarter revenue below estimates.
* Revenue: $25.27 billion, a 1.5% decrease year-over-year.
* Earnings: Adjusted EPS was $1.78, exceeding expectations.
* Comparable Sales: Fell 3.8% in stores, but rose 2.4% online.