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Lowe’s (NYSE: LOW) shares are trending higher, Tuesday, after Home Depot (NYSE: 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.
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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 (NYSE: 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.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.