Lowe's Flat Despite Q3 Beat

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Lowe's Companies, Inc.LOWE
shares are unchanged at $72.85 in Wednesday's session. Despite a Q3 beat EPS beat of $0.02 on slightly better revenue, the issue has not been able to maintain its gains from earlier in the session. After a higher open, it found resistance just above Tuesday's high ($74.37), reaching $74.55 before reversing course. Also, the current high coincides with its October 30 high ($74.57). The ensuing decline took the issue $1 beyond Tuesday's low ($72.60), reaching $71.60 before rallying back to unchanged.
Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.
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