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Stock Market & Financial Investment News

News Breaks
May 20, 2014
12:36 EDTHD, LOWEarnings Preview: Lowe's shares nearly flat ahead of Q1 earnings report
Lowe's Companies (LOW), a home improvement retailer, is scheduled to report on its first quarter before the market open on Wednesday, May 21, with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of 60c on revenue of $13.86B, according to First Call. The consensus range for EPS is 56c-63c on revenue of $13.56B-$14.26B. LAST QUARTER: Lowe's reported fourth quarter adjusted EPS of 31c, in-line with estimates, on revenue of $11.66B against estimates for $11.67B. The company also reported Q4 same-store sales rose 3.9%. Lowe's forecast fiscal year 2014 EPS guidance of $2.60 against estimates at that time for $2.64 and said it expects total sales growth of 5% in this fiscal year compared to last. Lowe's said it expected to open 15 home improvement and 5 hardware stores in 2014 and expects its FY13 SSS to increase approximately 4%. The company said its board authorized the repurchase of an additional $5B in company stock. On its earnings conference call, Lowe's said it was taking a "cautious" approach due to the slowdown in housing activity. The company said first half comps would be modestly higher than second half. The company forecast $3.4B in share repurchases in 2014, spread evenly across all quarters. Free cash flow for the year is expected $2.9B and capital expenditures is forecast at $1.2B. NEWS: During the quarter, Lowe's appointed Michael Jones as Chief Customer Officer, succeeding Gregory Bridgeford. At the UBS Global Consumer Conference, Lowe's said the housing industry may grow at a higher rate than GDP and sees another good year of home prices going up. It also expects homeowners will continue to be reengaged in discretionary spending around the home. Lowe's and Porch.com announced the expansion of their strategic partnership to the more than 1,700 Lowe's home improvement stores across the U.S. STREET RESEARCH: Oppenheimer upgraded its rating on Lowe's to Outperform from Perform on expectations sales will improve as the winter weather gives way to more favorable spring conditions. Wedbush downgraded Lowe's to Neutral from Outperform to reflect slower housing trends and continued investment. OTHERS TO WATCH: This morning, Lowe's rival Home Depot (HD) reported Q1 EPS of $1.00 on revenue of $19.69B, beating analysts' estimates. The company also raised its FY14 EPS view to $4.42, in-line with estimates, and backed its FY14 revenue guidance of up 4.8% from FY13, sending shares up around 2% in mid-morning trading. PRICE ACTION: Over the last three months, Lowe's shares are down around 2.3%. In morning trading ahead of tomorrow's report, Lowe's is relatively flat at $45.52.
News For LOW;HD From The Last 14 Days
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December 16, 2014
09:59 EDTLOW, HDOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: BB&T (BBT) initiated with a Neutral at Guggenheim... Bank of America (BAC) initiated with a Buy at Guggenheim... Ciena (CIEN) initiated with a Neutral at Wedbush... Cimarex Energy (XEC) initiated with a Perform at Oppenheimer... Citigroup (C) initiated with a Neutral at Guggenheim... Extended Stay America (STAY) initiated with a Market Perform at JMP Securities... Infinera (INFN) initiated with a Neutral at Wedbush... JPMorgan (JPM) initiated with a Neutral at Guggenheim... Morgan Stanley (MS) initiated with a Buy at Guggenheim... Newfield Exploration (NFX) initiated with an Outperform at Oppenheimer... Nike (NKE) initiated with a Market Perform at Cowen... PNC Financial (PNC) initiated with a Neutral at Guggenheim... Peak Resorts (SKIS) initiated with an Outperform at FBR Capital... Peak Resorts initiated with an Outperform at Oppenheimer... Ralph Lauren (RL) initiated with an Outperform at Cowen... U.S. Bancorp (USB) initiated with a Neutral at Guggenheim... Under Armour (UA) initiated with an Outperform at Cowen... Wells Fargo (WFC) initiated with a Neutral at Guggenheim... Whiting Petroleum (WLL) initiated with an Outperform at Oppenheimer... Lowe's (LOW) initiated with a Neutral at Nomura... Home Depot (HD) initiated with a Neutral at Nomura... Estee Lauder (EL) initiated with a Buy at KeyBanc... Huntsman (HUN) initiated with a Buy at Nomura... Dow Chemical (DOW) initiated with a Buy at Nomura.
07:05 EDTHDHome Depot initiated with a Neutral at Nomura
Target $110.
07:05 EDTLOWLowe's initiated with a Neutral at Nomura
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December 12, 2014
08:20 EDTLOWLowe's price target raised to $75 from $70 at RW Baird
Baird raised its price target on Lowe's to $75 from $70 following its analyst day to reflect the company's increasingly synchronized internal and external organization. The firm noted the company delivered a three year outlook which included upside to Street estimates next year. Baird reiterated its Outperform rating on Lowe's shares.
07:48 EDTLOWLowe's analyst day supports investment case, says UBS
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07:35 EDTHD, LOWLowe's outlook has improved, says Oppenheimer
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07:25 EDTLOWLowe's price target raised to $76 from $70 at JPMorgan
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December 11, 2014
10:28 EDTLOWLowe's says business is "sound," brand "strong"
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06:09 EDTLOWLowe's CEO sees Return on Invested Capital reaching 19% by 2017
Robert A. Niblock, Lowe's chairman, president and CEO stated, "The housing market and broader economy are recovering just as our transformation is gaining momentum." Robert F. Hull, Jr., Lowe's CFO, commented, "We continue to generate solid cash flow and have exciting opportunities ahead of us. Return on Invested Capital is expected to reach approximately 19% by 2017, an increase of almost 500 basis points over the next three years."
06:05 EDTLOWLowe's sees FY14 EPS about $2.68, consensus $2.67
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December 10, 2014
08:49 EDTHDHome Depot sees FY14 EPS $4.54, consensus $4.49
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December 9, 2014
10:48 EDTLOWLowe's volatility elevated into analyst and investor meeting
Lowe's December call option implied volatility is at 24, January is at 19, April is at 20; compared to its 26-week average of 21 according to Track Data, suggesting large near term price movement into a company hosted analyst and investor meeting to be held on December 11.
December 8, 2014
12:04 EDTLOWLowe's to host analyst and investor meeting
Analyst and Investor Meeting to be held on December 11 at 10 am. Webcast Link
December 5, 2014
08:35 EDTHDHome Depot continues to execute at very high level, says RW Baird
Baird said Home Depot continues to operate and execute at a very high level and should remain a stable port in the choppy retail environment. The firm reiterates its Outperform rating and $110 price target on Home Depot shares, citing operational efficiencies across the organization and a balanced approach to capital allocation.

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