Lowes (LOW) jumps 5% on earnings. The home improvement company that specializes with do-it-yourself consumers, topped earnings expectations while sales online picked up. The company also saw a pick up in demand from professional contractors, which has been Home Depot’s bread and butter. Following disappointing earnings from Home Depot, Lowes may be taking market share from their rival.
Target (TGT) modestly lower on lackluster earnings. The retail chain is down 2% as earnings beat by 7 cents as sales fell 1.6% for the quarter, missing estimates. Guidance was inline, but a third straight quarter of negative comparable sales growth did little to excite investors. Target seems to be stuck in the middle, not cheap enough to bring in the low end consumer, but not providing the consumer goods desired by the high end consumer.
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