Lowe's shares are trading lower in sympathy with Home Depot, which reported a Q2 revenue miss and issued FY24 Adjusted EPS outlook below estimates.
Portfolio Pulse from Benzinga Newsdesk
Lowe's shares are trading lower in sympathy with Home Depot, which reported a Q2 revenue miss and issued FY24 Adjusted EPS outlook below estimates.
August 13, 2024 | 10:23 am
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NEGATIVE IMPACT
Home Depot reported a Q2 revenue miss and issued a FY24 Adjusted EPS outlook below estimates, causing its shares to trade lower.
Home Depot's financial performance directly impacts its stock price. The Q2 revenue miss and lower FY24 EPS outlook are negative indicators for investors.
CONFIDENCE 100
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Lowe's shares are trading lower due to Home Depot's Q2 revenue miss and lower FY24 Adjusted EPS outlook.
Lowe's shares are affected by Home Depot's disappointing financial results, as both companies operate in the same industry and investors may anticipate similar challenges for Lowe's.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80