Filed under: Before the bell, Major movement, Earnings reports, Good news, Consumer experience, Competitive strategy, Home Depot (HD), Lowe’s Cos (LOW), Housing

Home improvement chain Lowe’s Cos. (NYSE: LOW) is moving sharply higher in today’s premarket following the release of strong second quarter earnings. Boosted by higher revenues, the North Carolina company reported a 9% jump in quarterly profits.

The company earnings of 67 cents per share, a nice upside surprise from the 61 cents analysts had expected. This was all the bulls needed to push the stock higher. So far this morning, shares of Lowe’s are up 6.1%, looking to open up $1.63.

Not surprisingly, the company did have one weakness, and that was sales from stores open a year or more, which was directly related to the slowdown in the housing market. Analysts had factored that in already, and the actual decline was “only” 2.6%.

Continue reading Lowe’s (LOW) up strong in the premarket on strong earnings

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This entry was posted on Monday, August 20th, 2007 at 11:19 am and is filed under Stocks Money News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.