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A Lowe's Home Improvement Warehouse store is seen connected August 17, 2022 successful Houston, Texas.
Brandon Bell | Getty Images
What I americium looking astatine Wednesday, Nov. 16, 2022
- U.S. banal futures constituent to a mixed unfastened arsenic investors digest stronger than expected October retail sales. Bond yields crook positive, with 2-year Treasury hitting 4.4%. Target's anemic vacation guidance overshadowing Lowe's quarterly strength, though.
- Target (TGT) shares descend 15% successful the premarket. Looks similar a cadence illness with a atrocious October and a anemic commencement to November, starring to promotional enactment peculiarly successful discretionary. Quarterly net per stock successful 3rd quarter: $1.54 versus $2.13 expected. Revenue: $26.52 cardinal versus $26.38 cardinal expected. Big 3 twelvemonth program to bring down costs. Target says shoplifting up 50% twelvemonth implicit year; outgo truthful acold this twelvemonth is $400 million. Though, nutrient strong.
- Lowe's (LOW) much amended quarter and comparable stores, amended than Home Depot, which was thought to beryllium much nonrecreational and little do-it-yourself. Disposable income and equity successful home. Home betterment precise strong, Lowe's CEO Marvin Ellison tells CNBC. Pros and DIY some strong. Third-quarter EPS: $3.27 versus $3.10 expected. Revenue: $23.48 cardinal versus $23.13 cardinal expected. Millennial purchaser coming into the marketplace — 250,000 caller ones, according to Ellison.
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