2023-05-23 11:31:27 ET
One week after home improvement giant Home Depot (NYSE: HD) shocked the stock market with a sales miss and weak guidance , investors are having the opposite reaction to news that its archrival has beaten on sales (and issued weak guidance).
This morning, home improvement retailer Lowe's Companies (NYSE: LOW) announced that it earned an adjusted profit of $3.67 per share on $22.3 billion in sales in the first quarter of 2023 versus analyst expectations of $3.44 and $21.6 billion.
And Lowe's shares are up 2.4% as of 10:45 a.m. ET because of it.
For further details see:
Why Lowe's Stock Popped Today