Lowe’s LOW shares are trending higher, Tuesday, after Home Depot HD reported better than expected second quarter results.
Because Lowe’s is scheduled to report its quarterly results Wednesday, Home Depot’s strong figures are encouraging that Lowe’s will also beat estimates.
Related: Lumber Liquidators Continues To Bleed Value
Home Depot beat earnings and revenue expectations by 4.8 percent and 0.9 percent, respectively. Full year guidance was raised by 2.3.
Lumber Liquidators LL, another competitor, is unchanged.
Shares of Lowe’s were last up 1.8 percent to $51.35 while Home Depot is trading 3.8 percent higher.
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