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Stock Market & Financial Investment News

News Breaks
May 20, 2014
12:36 EDTLOW, HDEarnings 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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January 21, 2015
12:12 EDTHD, LOWBest Buy, home retailers seen getting biggest bump from Sears demise
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10:01 EDTLOWOn the Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ashford Hospitality (AHT) upgraded to Outperform from Neutral at Credit Suisse... BAE Systems (BAESY) upgraded to Buy from Neutral at Goldman... Bazaarvoice (BV) upgraded to Outperform from Market Perform at Cowen... Becton Dickinson (BDX) upgraded to Outperform at Cowen... CVS Health (CVS) upgraded to Buy from Neutral at Goldman... Camden Property (CPT) upgraded to Outperform from Neutral at Credit Suisse... ConocoPhillips (COP) upgraded to Buy from Neutral at BofA/Merrill... Cornerstone OnDemand (CSOD) upgraded to Buy from Neutral at DA Davidson... Cree (CREE) upgraded to Overweight at Stephens... DDR Corp. (DDR) upgraded to Outperform from Neutral at Credit Suisse... EastGroup Properties (EGP) upgraded to Outperform from Neutral at Credit Suisse... Energy Transfer Partners (ETP) upgraded to Outperform from Neutral at Credit Suisse... Esperion (ESPR) upgraded at BofA/Merrill... Exxon Mobil (XOM) upgraded to Outperform from Market Perform at Wells Fargo... FXCM (FXCM) upgraded to Market Perform from Underperform at Keefe Bruyette... Fair Isaac (FICO) upgraded to Overweight from Equal Weight at Barclays... Golar LNG (GLNG) upgraded to Buy from Hold at Nordea... Gran Tierra (GTE) upgraded to Buy at Canaccord... Host Hotels (HST) upgraded to Outperform from Neutral at Credit Suisse... J.M. Smucker (SJM) upgraded to Overweight from Neutral at JPMorgan... Kilroy Realty (KRC) upgraded to Neutral from Underperform at Credit Suisse... Level 3 (LVLT) upgraded to Outperform from Market Perform at Wells Fargo... Lowe's (LOW) upgraded to Overweight from Equal Weight at Morgan Stanley... Michael Kors (KORS) upgraded to Outperform at Cowen... Netflix (NFLX) upgraded at Nomura... Regions Financial (RF) upgraded to Buy from Neutral at Guggenheim... Ruckus Wireless (RKUS) upgraded to Outperform from Market Perform at Northland... Santander Mexico (BSMX) upgraded to Neutral from Underperform at Credit Suisse... Scorpio Tankers (STNG) upgraded to Buy at Canaccord... Sprouts Farmers Markets (SFM) upgraded to Buy from Neutral at BofA/Merrill... Strategic Hotels (BEE) upgraded to Outperform from Neutral at Credit Suisse... The Medicines Co. (MDCO) upgraded to Outperform from Market Perform at Leerink... Whole Foods (WFM) upgraded at Sterne Agee... Wolseley (WOSYY) upgraded to Neutral from Underperform at Exane BNP Paribas.
09:31 EDTLOWLowe's says to hire approximately 30,000 seasonal employees
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06:52 EDTLOWLowe's upgraded to Overweight from Equal Weight at Morgan Stanley
Morgan Stanley upgraded Lowe's based on increased confidence in execution, accelerating category growth from the ongoing housing recovery and lower gas prices which the firm believes will drive earnings and EBIT margins. Price target raised to $80.
January 20, 2015
07:57 EDTHDHome Depot price target raised to $120 from $100 at Credit Suisse
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January 16, 2015
08:03 EDTHDHome Depot names Craig Menear Chairman effective February 2
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