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News Breaks
February 22, 2013
10:23 EDTLOWEarnings Preview: Lowe's backs FY12 EPS view $1.64, flat revenue
Lowe's Companies (LOW), a home improvement retailer, is scheduled to report Q4 before the market open on Monday, February 25, with a conference call scheduled for 9:00 am ET... EXPECTATIONS: Analysts are looking for EPS of 23c on revenue of $10.83B, according to First Call. The consensus range for EPS is 20c-28c on revenue of $10.64B-$11.2B... LAST QUARTER: Lowe's reported Q3 EPS of 35c including charges against estimates for 35c on revenue of $12.1B against estimates for $11.91B. Q3 results included charges related to long-lived asset impairments, discontinued projects, and a change in the discount rate applied to self-insurance claims which, in the aggregate, reduced pre-tax earnings for Q3 by $85M and diluted EPS by 5c. In December, the company backed its FY12 EPS view of $1.64 against estimates for $1.72 and its revenue view of approximately flat against estimates of $50.3B. The company also reiterated its FY12 same-store sales view of a 1% increase. On its analyst and investor call, the company said it was encouraged by recent trends in new and existing home sales and said it saw expansion opportunities in Mexico and Australia. During the quarter, Lowe's named Michael A. Jones as Chief Merchandising Officer... STREET RESEARCH: Stifel Nicolaus recently downgraded Lowe's to Hold from Buy as the firm thinks there's a growing chance that the housing recovery is slowing. Canaccord also downgraded Lowe's to Sell from Hold based on aggressive financial targets, a counterproductive management realignment, lack of traction in store resets, and continued e-commerce investments... PRICE ACTION: Over the last three months, Lowe's shares are up about 10%. Year-to-date, shares are up over 7%.
News For LOW From The Last 14 Days
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January 21, 2015
12:12 EDTLOWBest 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.

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