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Lowe’s shares jump despite weakening sales. What the pros say to do next

Garry Wills by Garry Wills
August 22, 2023
in Business Finance
Lowe’s shares jump despite weakening sales. What the pros say to do next
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Market Movers rounded up the best reactions on Lowe’s from investors and analysts. The experts, including Jim Cramer , discussed the home improvement retailer following the release of its second-quarter earnings results . Revenue fell slightly short of analysts’ expectations while earnings beat estimates. CEO Marvin Ellison said thriftier consumers led to weaker discretionary sales, but he feels good about the company’s long-term outlook due to low, aging inventory in the housing market. Lowe’s reaffirmed its full-year guidance. Shares of the stock finished 3.8% higher Tuesday.

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