Home Depot Receives Helping Hand From Lowe's Upbeat Outlook

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Home Depot Receives Helping Hand From Lowe's Upbeat Outlook

Home Depot Receives Helping Hand From Lowe's Upbeat Outlook
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Home Depot Receives Helping Hand From Lowe's Upbeat Outlook

by TheStreet 0:51 mins

Shares of Home Depot climbed on Wednesday making it TheStreet's Move of the Day. Home Depot topped the Dow as the best performer of the day on improved sentiment for the industry. The increase came after competitor Lowe’s, the second-largest home improvement retailer behind Home Depot, forecast higher demand on increased home renovation. In its earnings conference call, Lowe’s said it expects an uptick in spending on appliances, fixtures and flooring as the U.S. housing market continues to recover. Home Depot, which reported a day earlier, earned $1.52 a share, 7 cents higher than analysts expected.

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