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Lowe’s Still Cautious

admin — Wed, 23 Sep 2009 15:54:44 +0000

Lowe’s, the second largest home improvement retailer in the United States, indicated yesterday that the Company is still cautious about forecasting a recovery starting in the first quarter of 2010. Lowe’s has been experiencing a fall-off in sales as the U.S. housing market buckled in the recession, putting a halt on many major renovation projects.

Yesterday, Lowe’s released forecasts for the fiscal year ending January 28, 2011 of US$1.24 – US$1.34 per share; lower than analysts’ average forecast of US$1.33.

Overnight Market News – August 25, 2009

admin — Tue, 25 Aug 2009 13:17:32 +0000

US President Obama to Reappoint Ben Bernanke for Second Term as Federal Reserve Head
UK Mortgage Approvals Rise to 38,181 in July from June’s 35,564, Highest Level Since February 2008
Staples Inc Posts 38% Plunge in Second Quarter Net Income to USD 92.4mm as Companies Reduced Spending on Office Supplies
Lowe’s Cos Inc Enters into Joint Venture with Woolworths Ltd to Tap Australia’s USD 20B Home Improvement Market, Partnership Plans to Open 150 Stores Over Next 5 Years
Australian Brewer, Foster’s Group Ltd Reports Surge in Full-Year Profit to AUD 438.4mm vs AUD 111.7mm a Year Ago, But Warns that Wine Market Remains Challenging
Aluminum Corp of China Ltd (Chalco) Posts Third Straight Quarterly Loss of CNY 1.63B (USD 238.6mm) Compared with Earnings of CNY 1.14B a Year Ago
Crude Oil Stands at USD 74.37 per Barrel
Ethanol Stands at USD 1.74 per Gallon
Natural Gas Stands at USD 2.92 per British Thermal Unit (Btu)
Gold Stands at USD 942.30 per Troy Ounce
Dow Jones Industrial Average Rises 3.32 Points (0.03%)
London FTSE Index Falls 8.34 Points (-0.17%)
Japan Nikkei Index Falls 83.69 Points (-0.79%)
Hong Kong Hang Seng Index Falls 100.70 Points (-0.49%)
Brazil Bovespa Index Rises 46.78 Points (0.08%)

Lowe’s Profits Exceed Estimates

admin — Tue, 19 May 2009 20:13:02 +0000

Lowe’s Companies reported better-than-expected earnings of US$ 476M (or US$0.32 per share) for its first quarter ended May 1, 2009. Though profit fell 22% from US$0.41 per share in Q01 2008, the retailer still trumped earnings estimates of US$ 0.25 per share. Lowe’s predicts Q02 2009 earnings of between US$0.51 and US$0.55 per share, and increased its full year outlook to between US$1.13 and US$1.15 per share, pushing its stock up 8.18% to US$ 19.96 at yesterday’s close.

Financial News Summary – May 18, 2009

admin — Tue, 19 May 2009 06:35:47 +0000

- AIG Plans IPO for Asian Subsidiary
- Lowe’s Companies, Inc Profits Exceed Estimates
- Volkswagen Suspends Porsche Talks stating “the atmosphere is not a constructive one”

Overnight Market News – May 18, 2009

admin — Mon, 18 May 2009 12:44:09 +0000

AIG to Seek Asian Subsidiary IPO, Could Raise Over USD 4B
Japan’s AAA Foreign Currency Debt Rating Cut to Aa2 by Moody’s
Volkswagen Stops Tie-up Talks with Porsche as Not Ready for Merger
Europe’s Largest Papermaker, Stora Enso Oyj and Chile’s Celulosa Arauco y Constitucion SA to Purchase USD 344mm of Uruguayan Forest
Second-Biggest Home Improvement Retailer, Lowe’s Record’s 21.58% Decline in Profit to USD 476mm in Q01 Ended May 1, 2009
Indian Stocks Jump 17% on Elections
Crude Oil Stands at USD 57.38 per Barrel
Ethanol Stands at USD 1.78 per Gallon
Natural Gas Stands at USD 4.10 per British Thermal Unit (Btu)
Dow Jones Industrial Average Falls 62.68 Points (-0.75%)
London FTSE Index Rises 40.00 Points (0.92%)
Japan Nikkei Index Falls 226.33 Points (-2.44%)
Hong Kong Hang Seng Index Rises 232.21 Points (1.38%)
Brazil Bovespa Index Falls 438.81 Points (-0.89%)