Lowe's stock falls the most in 9 months ahead of earnings, in wake of Home Depot's disappointment

Shares of Lowe's Companies sank 4.9% in morning trading Tuesday, a day before fiscal second-quarter results are scheduled to be reported, as they suffered collateral damage from yet another disappointing earnings report from larger rival Home Depot Inc. earlier. The stock was headed for the biggest one-day decline since it fell 8.2% on Nov. 18, 2020. Home Depot's stock slumped 4.8%, also on track for the biggest selloff in nine months, and to extend the streak of one-day post-earnings declines to eight quarters. Lowe's is scheduled to report earnings before Wednesday's opening bell. The stock has declined post-earnings the past three quarters. The FactSet consensus for earnings per share is $4.01, for sales of $26.76 billion and for same-store sales is a 2.1% decline. Lowe's stock has shed 5.2% over the past three months, while Home Depot shares have slipped 0.3% and the Dow Jones Industrial Average has gained 3.0%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

Lowe's stock falls the most in 9 months ahead of earnings, in wake of Home Depot's disappointment
Shares of Lowe's Companies sank 4.9% in morning trading Tuesday, a day before fiscal second-quarter results are scheduled to be reported, as they suffered collateral damage from yet another disappointing earnings report from larger rival Home Depot Inc. earlier. The stock was headed for the biggest one-day decline since it fell 8.2% on Nov. 18, 2020. Home Depot's stock slumped 4.8%, also on track for the biggest selloff in nine months, and to extend the streak of one-day post-earnings declines to eight quarters. Lowe's is scheduled to report earnings before Wednesday's opening bell. The stock has declined post-earnings the past three quarters. The FactSet consensus for earnings per share is $4.01, for sales of $26.76 billion and for same-store sales is a 2.1% decline. Lowe's stock has shed 5.2% over the past three months, while Home Depot shares have slipped 0.3% and the Dow Jones Industrial Average has gained 3.0%. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.