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Stock Market & Financial Investment News

News Breaks
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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October 30, 2014
10:09 EDTLOWLowe's, Home Depot rise after Goldman says housing outlook improved
Shares of Lowe's (LOW) and Home Depot (HD) are rising after Goldman Sachs became more upbeat on both companies. The firm said that the housing sector's improved outlook made the stocks more attractive. WHAT'S NEW: Goldman Sachs analyst Matthew Fassler upgraded Lowe's to Buy from Neutral and raised his price target on the shares to $63 from $58. He increased his price target on Home Depot to $103 from $100 but kept a Neutral rating on the stock. Fassler increased his estimates for both companies to reflect his greater optimism about the housing sector in 2015-2016. The analyst said that his upgrade of Lowe's also reflects his more upbeat view of retail stocks linked to housing, given the lack of cyclical challenges facing the housing market. Furthermore, Lowe's can increase its margins significantly, as they are much further below their peak than most of the company's peer, according to Fassler. Meanwhile, the big box, Do-It-Yourself retailers face little competition from Amazon (AMZN), added the analyst. PRICE ACTION: In early trading, Lowe's climbed 0.5% to $56.09, while Home Depot rose fractionally to $96.48.
10:02 EDTLOWOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Ally Financial (ALLY) upgraded to Buy from Hold at Deutsche Bank... Banco Bradesco (BBD) upgraded to Overweight from Neutral at JPMorgan... Cree (CREE) upgraded to Neutral from Underperform at BofA/Merrill... Finish Line (FINL) upgraded to Overweight from Neutral at Piper Jaffray... Grand Canyon (LOPE) upgraded to Overweight from Neutral at Piper Jaffray... Hess Corp. (HES) upgraded to Outperform from Sector Perform at Howard Weil... Ignite Restaurant (IRG) upgraded to Market Perform from Underperform at Raymond James... Lowe's (LOW) upgraded to Buy from Neutral at Goldman... MakeMyTrip (MMYT) upgraded to Buy from Hold at Deutsche Bank... MicroStrategy (MSTR) upgraded to Overweight from Equal Weight at First Analysis... Moelis (MC) upgraded to Positive from Neutral at Susquehanna... PG&E (PCG) upgraded to Neutral from Sell at Goldman... RF Micro Devices (RFMD) upgraded to Buy at Canaccord... Ruckus Wireless (RKUS) upgraded to Equal Weight from Underweight at Morgan Stanley... STMicroelectronics (STM) upgraded to Neutral from Sell at UBS... Sealed Air (SEE) upgraded to Market Perform from Underperform at Wells Fargo... Software AG (STWRY) upgraded to Neutral from Underweight at JPMorgan... Southwest (LUV) upgraded to Neutral from Underweight at JPMorgan... Sprint (S) upgraded to Neutral from Underperform at Credit Suisse... SunPower (SPWR) upgraded to Buy from Hold at Canaccord... Take-Two (TTWO) upgraded to Buy from Hold at Brean Capital... TriQuint (TQNT) upgraded to Buy at Canaccord... Visa (V) upgraded to Outperform from Market Perform at FBR Capital... Whiting Petroleum (WLL) upgraded to Overweight from Equal Weight at Stephens.
06:28 EDTLOWLowe's upgraded to Buy from Neutral at Goldman
Goldman Sachs upgraded Lowe's (LOW) to Buy saying housing is going through a multi-year recovery. Goldman believes the large home improvement retailers have limited risk of disruption by Amazon (AMZN). It raised its price target for Lowe's shares to $63 from $58. The firm keeps a Neutral rating on Home Depot (HD) but raised its price target for shares to $103 from $100.

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