Follows Rival Home Depot Higher
The home-improvement space got another boost this morning when Lowe's exceeded estimates this morning, following yesterday's strong report by rival Home Depot. Lowe's reported second-quarter earnings of $0.88 per share on revenues of $15.71 billion, surpassing forecasts of $0.79 EPS on $15.07 billion in revenues. LOW is up 4.7 percent to $46.15 on my tradeMONSTER extended-hours platform.
Staples Down on Lower Outlook
The office-supply retailer posted earnings of $0.16 per share on revenues of $5.31 million for the second quarter, below consensus estmates of $0.18 EPS on $5.37 billion in revenues. Staples also lowered its full-year guidance, saying that it now expects earnings of $1.21 to $1.25 per share versus its earlier estimate of $1.30 to $1.35 EPS. SPLS is down more than 10 percent to $15.13 in the pre-market.
Analog Devices Falls on Guidance
The chip maker reported earnings of $0.57 per share on revenues of $674 in its quarterly report after yesterday's close, beating expectations of $0.54 on $671.8 in revenues. But shares dropped after the company announced guidance of $0.55 to $0.61 EPS for the current quarter on $675 million to $700 million in revenues, compared with forecasts of $0.59 earnings on revenues of $697.22 million. ADI is down about 2 percent to $46.85 this morning.
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