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November 16, 2012
11:00 EDTLOWEarnings Preview: Lowe's Q3 earnings could be helped by Sandy
Lowe's (LOW) is expected to report Q3 earnings before the open on Monday, November 19, with a conference call scheduled for 9:00 am ET. Analysts are looking for a profit of 35c on revenue of $11.91B. The consensus range is 32c-39c for EPS, and $11.78B-$12.01B for revenue, according to First Call. After reporting EPS and revenue that missed analysts' expectations in Q3, Lowe's forecast FY12 EPS $1.64, consensus $1.66, on flat revenue growth, consensus $50.08B. On its last earnings call, Lowe's forecast 2H same-store sales flat and said 2H gross margin should increase, but to a lesser degree than its previous outlook. The company also said its guidance assumed an additional $1.5B in share buybacks. Lowe's said it would take a more cautious approach to the balance of the year. During the quarter, Lowe's formally withdrew its non-binding proposal dated July 8 to the board of RONA to acquire all of the issued and outstanding common shares of RONA for C$14.50 in cash per share. Lowe's said it believed a deal made sense, but said it was "unfortunate" that the RONA board did not recognize the important economic and commercial benefits of the proposal. The Wall Street Journal said Lowe's board wants to hire a successor to CEO Robert Niblock, even though they're not looking to replace him immediately; the new executive would first fill the post of Chief Merchandising Officer. Barron's said Lowe's should benefit from Hurricane Sandy and could surprise investors in its Q3 report. In addition to consumers looking to buy up home repair supplies to fight off the effects of the storm, Barron's notes that there are signs that the housing market is starting to improve. Oppenheimer increased its target on Lowe's as the firm expects the company to benefit from improving demand trends. ITG Research believes Lowe's SSS finished strong in Q3 boosted by Sandy.
News For LOW From The Last 14 Days
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November 24, 2015
10:00 EDTLOWOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Avon Products (AVP) upgraded to Buy from Neutral at Citi... Box (BOX) upgraded to Buy from Neutral at BofA/Merrill... Daimler AG (DDAIF) upgraded to Buy from Neutral at UBS... Emerge Energy (EMES) upgraded on amended credit deal at Stifel... Fairmount Santrol (FMSA) upgraded to Hold from Underperform at Jefferies... IAMGOLD (IAG) upgraded to Hold from Reduce at HSBC... Kinross Gold (KGC) upgraded on acquisitions at RBC Capital... Lowe's (LOW) upgraded to Overweight from Neutral at Atlantic Equities... Nimble Storage (NMBL) upgraded on valuation at DA Davidson... Resolute Energy (REN) upgraded to Equalweight from Underweight at Capital One... Schnitzer Steel (SCHN) upgraded to Equal Weight from Underweight at Morgan Stanley... Webster Financial (WBS) upgraded to Overweight from Neutral at JPMorgan.
06:20 EDTLOWRetailers hunt for new breaches after warning on malware, Reuters says
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05:47 EDTLOWLowe's upgraded to Overweight from Neutral at Atlantic Equities
Atlantic Equities analyst Sam Hudson upgraded Lowe's (LOW) to Overweight citing a "compelling" growth outlook and the retailer's operating margin expansion. Hudson raised his price target for shares to $94 from $79. He keeps an Overweight rating on peer Home Depot (HD) and upped his price target for the stock to $154 from $133. Both companies posted strong Q3 results amid accelerating trends in big-ticket categories, Hudson tells investors in a post-earnings research note.
November 23, 2015
11:47 EDTLOWLowe's names Marci Grebstein as Chief Marketing Officer, effective immediately
Lowe's Companies announced that Marci P. Grebstein has been promoted to chief marketing officer effective immediately. Grebstein most recently served as vice president of advertising. She will report to Michael A. Jones, chief customer officer, and succeeds Thomas J. Lamb who has left the company.
November 19, 2015
10:02 EDTLOWLowe's upgraded to Buy from Hold at Zelman
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November 18, 2015
09:04 EDTLOWLowe's backs FY15 cash flow from operations $5B, CapEx $1.3B
Sees FY15 effective tax rate of 38.1%. The company expects to repurchase $3.8B of stock.
09:04 EDTLOWLowe's says key drivers remain conducive for home improvement through 2017
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09:02 EDTLOWLowe's reports total customer transactions of 213.3M in Q3
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06:05 EDTLOWLowe's sees FY15 EPS about $3.29, consensus $3.28
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06:04 EDTLOWLowe's reports Q3 EPS 80c, consensus 78c
Reports Q3 revenue $14.4B, consensus $14.31B. Reports Q3 SSS up 4.6%.
November 17, 2015
15:14 EDTLOWLowe's November 72.5 straddle priced for 4.4% movement into Q3
15:13 EDTLOWNotable companies reporting before tomorrow's open
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13:53 EDTLOWEarnings Watch: Lowe's up about 2% over last three months
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07:02 EDTLOWLowe's volatility increases into Q3 and outlook
Lowe's November call option implied volatility is at 67, December is at 31, January is at 27; compared to its 52-week range of 16 to 33, suggesting large near term price movement into the expected release of Q3 results on November 18.

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