Lowe’s stock falls in wake of rival Home Depot’s disappointing earnings report

Shares of Lowe’s Companies Inc.
LOW,
-1.16%
dropped 1.9% toward a seven-week low in premarket trading Tuesday, as a disappointing earnings report from rival home improvement retailer Home Depot Inc.
HD,
-2.15%
weighed on sentiment. Lowe’s is scheduled to report its own fiscal first-quarter results before the May 23 opening bell. Lowe’s stock was headed for a fifth-straight decline, which would be the longest losing streak since the five-day stretch that ended Feb. 9, 2023. The stock has declined 5.8% over the past three months through Monday, while Home Depot shares had dropped 10.2% and the S&P 500
SPX,
-0.64%
has gained 1.1%.