Weak Quarter At Lowe’s

August 17, 2009 at 11:31 am  ·  Category: Macro Economics, Market Commentary, Stocks

9.5% same store sales drop and 19% drop in net income at home improvement retailer Lowe’s (LOW) for the quarter ended July 31, 2009

Stock is down 11% on the news.  The report isn’t really all that different from many issued in the last month or two by companies and which the market reacted to by bidding up shares.  Today, they’re selling shares off.

low-1-year-chart

Disclosure: Top Gun has no position in Lowe’s (LOW) shares.

Posted by Greg Feirman  ·  Trackback URL  ·  Link
 

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