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AI Likely to Become Functional Part Across Retail Operations, UBS Says
US Markets

AI Likely to Become Functional Part Across Retail Operations, UBS Says

Artificial intelligence will likely become a functional part across retail operations, with implications ranging from demand generation to cost structures, UBS Securities said in a note emailed Friday.The US hardline and food retail sector has mostly used AI in areas such as marketing, customer service chatbots and basic inventory optimization, the brokerage said.However, the technology is now being adopted more broadly across different functions, UBS analysts, including Michael Lasser, said."As consumers increasingly rely on large language models and agentic systems to discover, evaluate, and purchase goods, traditional traffic channels -- stores and websites -- may become less central," Lasser said. "This raises important questions around traffic monetization, particularly for high-margin businesses such as retail media."UBS expects higher-income consumers to influence demand dynamics, as the top 10% of households dictate about half of all spending.AI may exacerbate income inequality, benefiting premium categories and adding pressure on value-oriented segments, according to the UBS note. This means retailers may have to alter strategies to reflect "a more bifurcated consumer landscape."Retailers that use AI-driven marketing are likely to see improved customer acquisition efficiency, Lasser said.On the cost management front, he said working capital needs could drop due to the automation of repetitive processes and improved inventory management systems.While AI helps improve accuracy in stores and distribution centers, it introduces new costs, including cloud computing, data governance and cybersecurity, Lasser said.Retailers with integrated ecosystems are likely best positioned to benefit from mounting AI adoption, according to UBS. They include Walmart (WMT), Costco Wholesale (COST), Target (TGT), Home Depot (HD), Lowe's (LOW) and Kroger (KR).Also on that list are AutoZone (AZO), O'Reilly Automotive (ORLY), Wayfair (W) and Williams-Sonoma (WSM).Price: $120.42, Change: $-0.08, Percent Change: -0.07%

$AZO$COST$HD$KR$LOW$ORLY$TGT$W$WMT$WSM
Research

Research Alert: CFRA Moves To Buy From Hold On Shares Of Lowe's Companies, Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Our 12-month target price of $249 (down from $274) is 20x our FY 27 EPS view of $12.44. The multiple is a premium to the ten-year P/E mean of 18.3x, justified by secular demand drivers, including an aging U.S. housing stock, record home equity levels, and a U.S. home shortage. Additionally, we think recent acquisitions will position LOW for significant market share gains. Our FY 27 EPS view of $12.44 is revised from $12.45 and FY 28 EPS of $13.34 is revised from $13.64. Although we think markets are pricing in the pressured existing housing market as a result of the higher-for-longer interest rate environment and higher fuel prices, we see LOW as positioned to offset some of this pressure with its recent acquisitions, which target the new housing market and commercial demand, as it has recently won new contracts for projects like data centers, stadiums, and municipalities. We also see LOW continuing to benefit from demand in its appliances departments, which should continue as the replacement cycle gains momentum.

$LOW
Wire

Lowe's Faces Risks to 2026 Numbers Amid Poor Category Outlook, RBC Says

Lowe's (LOW) faces risks to 2026 numbers amid rising rates, consumer pressure, and cost inflation, RBC Capital Markets said in a Wednesday research report.The brokerage said it lowered its Q2 adjusted EPS guidance to $4.24 and comp estimate to 0.5%. For 2026 and 2027, RBC now expects adjusted EPS of $12.35 and $12.87, respectively, from $12.59 and $13.20 earlier.In Q1, comp trends by month were choppy due to winter storms, but trends improved and peaked in March, while April was said to be in-line with expectations, analysts wrote.Overall, big ticket comps continue to accelerate, while the company's perpetual productivity improvement initiatives record greater benefit from AI, according to the note.The company found efficiencies through the use of AI as new tools support demand planning, allocation and replenishment, as well as pricing and promotions, according to RBC.The brokerage said it reiterated its sector perform rating on the stock and cut its price target to $232 per share from $264.Price: $214.76, Change: $-6.29, Percent Change: -2.85%

$LOW
Wire

Lowe's Faces 'Constrained' Earnings Growth Amid Weak DIY Demand, BofA Says

Lowe's (LOW) is facing "constrained" earnings growth as weak DIY discretionary demand continues to weigh on results amid a challenging housing market backdrop, BofA Securities said in a report Thursday.The firm noted that Q1 comparable sales rose 0.6%, supported by strength in professional customers, appliances, online sales and home services, while discretionary DIY demand lagged.Lowe's Q2 earnings per share guidance, which calls for a 2% year-over-year decline, reflects incremental operating margin pressure from higher transportation costs and investments in promotions, marketing and fulfillment offers, the report said.BofA said "productivity initiatives" will likely help offset higher transportation costs in the second half of the year and that it is modeling an improvement in transaction trends during that period. But the analysts said their forecasts are "drifting toward" the low end of management's guidance range absent an improvement in housing fundamentals, according to the report.BofA reiterated a neutral rating on Lowe's and lowered its price target to $257 from $260. It also lowered its fiscal 2026 and 2027 EPS estimates to $12.33 and $12.84, respectively, citing weaker Q2 sales and margin expectations.Price: $216.45, Change: $-4.60, Percent Change: -2.08%

$LOW
Wire

BofA Securities Cuts Price Target on Lowe's to $257 From $260, Maintains Neutral Rating

Lowe's (LOW) has an average rating of overweight and mean price target of $264.63, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $216.38, Change: $-4.68, Percent Change: -2.11%

$LOW
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 2.3%.In corporate news, GameStop (GME) increased its stake in eBay (EBAY) to about 6.6%, according to a Schedule 13D filed with the Securities and Exchange Commission. GameStop shares rose 2.6%, and eBay gained 3.9%.TJX (TJX) raised its full-year outlook Wednesday after posting stronger-than-expected fiscal Q1 results, with comparable sales rising across all segments. Its shares popped 5.6%.Lowe's (LOW) reported fiscal Q1 results above market estimates, while the home improvement retailer affirmed its full-year outlook. Shares rose 0.9%.Hasbro (HAS) shares dropped past 9%. The company reported a Q1 operating loss for the consumer products division amid largely flat sales even as the toymaker delivered stronger-than-expected results at the consolidated level.

$EBAY$GME$HAS$LOW$TJX
Sectors

Sector Update: Consumer Stocks Mixed Wednesday Afternoon

Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.5% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 2.2%.In corporate news, Lowe's (LOW) reported fiscal Q1 results above market estimates, while the home improvement retailer affirmed its full-year outlook. Shares rose 0.8%.Hasbro (HAS) shares dropped past 6%. The company reported a Q1 operating loss for the consumer products division amid largely flat sales even as the toymaker delivered stronger-than-expected results at the consolidated level.Target (TGT) raised its full-year sales growth outlook on Wednesday as the retailer recorded higher-than-expected fiscal first-quarter results. Shares still fell 4%.

$HAS$LOW$TGT
Sectors

Sector Update: Consumer

Consumer stocks were mixed Wednesday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) decreasing 0.3% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) rising 1.9%.In corporate news, Lowe's (LOW) reported fiscal Q1 results above market estimates on Wednesday, while the home improvement retailer affirmed its full-year outlook. Its shares rose 0.7%.

$LOW
Wire

Truist Securities Adjusts Price Target on Lowe's Companies to $255 From $280, Maintains Buy Rating

Lowe's Companies (LOW) has an average rating of overweight and mean price target of $282.57, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $218.14, Change: $-0.24, Percent Change: -0.11%

$LOW
Wire

Wells Fargo Adjusts PT on Lowe's Companies to $255 From $260, Maintains Overweight Rating

Lowe's Companies (LOW) has an average rating of overweight and mean price target of $282.73, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://www..com/contact-us)Price: $218.90, Change: $+0.53, Percent Change: +0.24%

$LOW
Wire

Top Midday Stories: Target Beats Q1 Estimates, Ups Sales Guidance, But Shares Fall; Intuit Laying Off 17% of Global Workforce

All three major US stock indexes were up in late-morning trading Wednesday, a day after a jump in long-dated US Treasury yields caused equities to retreat, and ahead of Nvidia's (NVDA) highly anticipated earnings results in the afternoon.In company news, Target (TGT) reported fiscal Q1 adjusted earnings of $1.71 per diluted share, up from $1.30 a year earlier and above the FactSet consensus analyst estimate of $1.47. Fiscal Q1 net sales were $25.44 billion, up from $23.85 billion a year ago and above the FactSet consensus of $24.66 billion. For fiscal 2026, the company said it expects adjusted EPS to be near the high end of its prior guidance range of $7.50 to $8.50, compared to the FactSet consensus of $8.12. Full-year net sales are projected to grow around 4% from 2025, up from its prior guidance of 2% growth. Analysts expect net sales of $107.15 billion. Target shares were down 4.4% around midday.Intuit (INTU) is laying off about 17% of its global workforce, or roughly 3,000 workers, Reuters reported, citing an internal memo. The company also plans to close its Reno and woodland Hills offices, the report said. Intuit shares were down 3.5%.TJX (TJX) reported fiscal Q1 earnings Wednesday of $1.19 per diluted share, up from $0.92 a year earlier and above the FactSet consensus of $1.02. Fiscal Q1 net sales were $14.32 billion, up from $13.11 billion a year earlier and above the FactSet consensus of $14.02 billion. For fiscal Q2, the firm said it expects EPS of $1.15 to $1.17, compared with the consensus of $1.17. TJX expects comparable sales to grow 2% to 3% in fiscal Q2. For fiscal 2027, the company expects EPS of $5.08 to $5.15, up from its prior guidance of $4.93 to $5.02, and compared with the consensus of $5.13. Full-year comparable sales are expected to grow 3% to 4%, up from 2% to 3% previously. TJX shares were up 6%.Lowe's (LOW) reported fiscal Q1 adjusted earnings of $3.03 per diluted share, up 3.8% from a year earlier and above the FactSet consensus of $2.97. Fiscal Q1 net sales were $23.08 billion, up from $20.93 billion a year ago and above the consensus of $22.98 billion. Shares were down 0.4%.Analog Devices (ADI) reported fiscal Q2 adjusted earnings of $3.09 per diluted share, up from $1.85 a year earlier and above the FactSet consensus of $2.88. Fiscal Q2 revenue was $3.62 billion, up from $2.64 billion a year ago and above the FactSet consensus of $3.51 billion. For fiscal Q3, the firm expects adjusted EPS of $3.30, plus or minus $0.15, above the consensus of $2.99. Fiscal Q3 revenue is expected to be $3.9 billion, plus or minus $100 million, above the FactSet consensus of $3.61 billion. Analog Devices shares were down 5.8%.Price: $225.58, Change: $+4.97, Percent Change: +2.25%

$ADI$INTU$LOW$NVDA$TGT$TJX
Lowe's Tops First-Quarter Views, Maintains Full-Year Outlook
US Markets

Lowe's Tops First-Quarter Views, Maintains Full-Year Outlook

Lowe's (LOW) reported fiscal first-quarter results above market estimates on Wednesday, while the home improvement retailer affirmed its full-year outlook.Its adjusted earnings of $3.03 a share for the three months through May 1 rose 3.8% from the year before, topping the FactSet-polled consensus of $2.97. The result excluded pre-tax expenses of $96 million linked to the retailer's acquisitions of Foundation Building Materials and Artisan Design Group last year.Sales climbed to $23.08 billion from $20.93 billion, ahead of the Street's view for $22.98 billion. Comparable sales edged up 0.6%, buoyed by online sales growth of about 16% and demand for appliances and home services. However, the metric trailed the market's expectation for an increase of 0.7%."Strong spring execution and continued momentum in pro, appliances, online, and home services supported a solid start to the year as we delivered our fourth consecutive quarter of positive (comparable) sales," Chief Executive Marvin Ellison said in a statement. "In spite of a challenging housing macro, we remain focused on advancing our total home strategy to provide the best experience for our customer."For fiscal 2026, Lowe's continues to project adjusted EPS of $12.25 to $12.75 and sales between $92 billion and $94 billion. Comparable sales are still pegged at flat to up 2%.The Street is looking for non-GAAP EPS of $12.58 on $93.25 billion in full-year sales, with expected same-store sales growth of 1.3%.Shares of the company were down 3.7% in Wednesday trade, and have lost about 13% so far this year.Truist Securities has a buy rating on Lowe's stock."Given stable demand and the near cycle lows for housing investment, we continue to believe the bias to an inflection is to the upside, with timing uncertainty as the primary risk," the brokerage said in a client note.On Tuesday, rival Home Depot reiterated its fiscal 2026 guidance following better-than-expected first-quarter results.Earlier in the week, Oppenheimer expected Home Depot and Lowe's to lower their full-year guidance.Price: $210.69, Change: $-7.68, Percent Change: -3.52%

$LOW
Sectors

Sector Update: Consumer Stocks Mixed Premarket Wednesday

Consumer stocks were mixed premarket Wednesday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) declining by 0.2% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) up 0.3%.TJX (TJX) stock was up more than 3% after the company posted higher fiscal Q1 earnings and net sales, and raised its fiscal 2027 outlook.Lowe's (LOW) shares were down more than 1% even after the company reported higher fiscal Q1 adjusted earnings and net sales.Arcos Dorados Holdings (ARCO) stock was up more than 7% after the company reported higher Q1 earnings and revenue.

$ARCO$LOW$TJX$XLP$XLY
Asia Markets

US Equity Futures Edge Higher Pre-Bell Amid Chip Sector Gains as Traders Await Nvidia Earnings

US equity futures were edging higher pre-bell Wednesday as traders anticipated Nvidia's (NVDA) fiscal Q1 financial results, expected after the closing bell, amid share gains in the broader chip sector.Dow Jones Industrial Average futures were 0.3% higher, S&P 500 futures were up 0.4%, and Nasdaq futures were 0.7% higher.Investors look forward to Nvidia's earnings for key information on trends in artificial intelligence and the demand for chips. The company's stock was up 1.6% in premarket activity.Traders digested the latest round of earnings, with Analog Devices (ADI) posting higher fiscal Q2 adjusted earnings and revenue.Oil prices were lower, with front-month global benchmark North Sea Brent crude down 3.9% at $107.67 per barrel and US West Texas Intermediate crude 3.3% lower at $100.96 per barrel.The Atlanta Fed Business Inflation Expectations survey for May is scheduled for release at 10 am ET. The Federal Reserve will release the minutes of its most recent policy meeting at 2 pm.Fed Governor Michael Barr is slated to speak on Wednesday.In other world markets, Japan's Nikkei closed 1.2% lower, Hong Kong's Hang Seng ended 0.6% lower, and China's Shanghai Composite finished 0.2% lower. Meanwhile, the UK's FTSE 100 was up 0.3%, and Germany's DAX index was 0.5% higher in Europe's early afternoon session.In equities, gains of major chip firms AMD (AMD), Micron Technology (MU), and Intel (INTC) helped propel the wider semiconductor sector. AMD stock was up 2.4%, Micron shares rose 3.8%, and Intel stock was up 4.8%.On the losing side, Lowe's (LOW) stock was down 1.2% despite reporting higher fiscal Q1 adjusted earnings and sales. Energy firms Exxon Mobil (XOM), BP (BP), and Equinor (EQNR) saw their stocks drop as oil prices declined. Exxon Mobil shares were down 0.9%, BP stock fell 1.1%, and Equinor shares were down 1.6%.

Dow JonesNasdaq CompositeS&P 500$ADI$AMD$BP$EQNR$INTC$LOW$MU$NVDA$XOM
Research

Research Alert: Lowe's Strategic Initiatives Lead Q1 Beat Amid Tough Housing Market

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:Lowe's reported Q1 FY 27 (Jan.) total sales of $23.1B, surpassing expectations and up 10.3% from $20.9B the prior year, due to FBM and ADG acquisitions. Organic comparable sales rose 0.6% vs. 0.75% expected, while adjusted EPS of $3.03 beat consensus of $2.97 and increased from $2.92 the prior year. Strategic initiatives in Pro, Appliances, and Home Services, along with 15.5% online growth, demonstrate execution strength amid challenging housing conditions. Management affirmed FY 27 guidance of flat to +2% comparable sales and $12.25-$12.75 EPS, signaling confidence despite acknowledging a "challenging housing macro." We expect the transition to remodeling as homeowners stay put longer will remain limited given consumer economic uncertainty and high financing costs. We anticipate that LOW's strategic focus areas will help offset persistent market headwinds, though big-ticket pressure may continue weighing on comparable sales growth in the near term.

$LOW
Stocks Gain Pre-Bell Ahead of Nvidia Earnings, Fed Meeting Minutes
US Markets

Stocks Gain Pre-Bell Ahead of Nvidia Earnings, Fed Meeting Minutes

The main US stock measures were pointing higher in Wednesday's premarket activity as traders await tech bellwether Nvidia's (NVDA) latest financial results and minutes of the Federal Reserve's last policy meeting.The S&P 500 rose 0.4%, the Dow Jones Industrial Average edged up 0.1% and the Nasdaq added 0.7% before the opening bell. The indexes finished Tuesday trading lower, with the Nasdaq and S&P 500 recording losses for a third consecutive session.Shares of Nvidia increased 1.8% pre-bell, with the chipmaker scheduled to report its fiscal first-quarter results after the markets close. The current consensus on FactSet is for the company to report non-GAAP earnings of $1.75 per share and revenue of $78.91 billion for the quarter.Nvidia's sales are expected to outperform market projections, with potential for "enhanced" cash returns likely to be among the key areas of focus, BofA Securities said in a note e-mailed Tuesday.The Fed is scheduled to post minutes of its last policy meeting at 2 pm, which will be assessed for fresh insight on the central bank's monetary policy. Last month, the central bank held interest rates steady, saying the Middle East war is fueling uncertainty around the US economic outlook.Markets widely expect the Fed to keep its benchmark lending rate unchanged at its next policy meeting in June, according to the CME FedWatch tool.Treasury yields were down before the open, with the two-year rate retreating 3.3 basis points to 4.09% and the 10-year rate declining 1.8 basis points to 5.16%.President Donald Trump reportedly said Tuesday that the US may need to resume military strikes against Iran. Earlier in the week, Trump said the US postponed a planned attack on Tehran after leaders of Saudi Arabia, Qatar and the United Arab Emirates urged restraint amid "serious" ongoing negotiations.West Texas Intermediate crude oil decreased 1.9% to $102.17 a barrel in premarket action, while Brent dropped 2% to $109.02.Wednesday's economic calendar also has the weekly mortgage applications bulletin at 7 am, followed by the EIA domestic petroleum inventories report at 10:30 am. Fed Governor Michael Barr is slated to speak at 9:15 am.Analog Devices (ADI), TJX (TJX), Lowe's (LOW), Target (TGT) and Hasbro (HAS) are expected to post their earnings before the bell, among others. Intuit (INTU), Nordson (NDSN) and Urban Outfitters (URBN) release their results after the markets close.Gold nudged 0.4% lower to $4,493 per troy ounce, while bitcoin gained 0.9% to $77,457.

Dow JonesNasdaq CompositeS&P 500$ADI$HAS$INTU$LOW$NDSN$NVDA$TGT$TJX$URBN
Equity Markets Mixed as Trump Aborts Plan to Attack Iran
US Markets

Equity Markets Mixed as Trump Aborts Plan to Attack Iran

US equity markets closed mixed Monday as President Donald Trump said the US was postponing a plan to attack Iran on Tuesday.The Nasdaq Composite declined 0.5% to 26,090.7, while the Dow Jones Industrial Average rose 0.3% to 49,686.1. The S&P 500 closed 0.1% lower at 7,403.1. Most sectors were in the green, led by energy, while technology saw the steepest decline.Trump said the US will hold off on its planned military attack against Iran that was previously scheduled for Tuesday, according to his social media post on Monday.Trump said Middle Eastern leaders, including Saudi Arabia Crown Prince Mohammed bin Salman, asked the US president to call off the attack amid "serious" ongoing negotiations to end the Washington-Tehran conflict.Trump, however, cautioned that the US will "go forward with a full, large scale assault of Iran" if a deal is not reached.Brent crude fell 0.4% to $108.85 per barrel in Monday late-afternoon trade, while West Texas Intermediate crude was last up 0.9% at $106.34 per barrel.Trump's latest rhetoric follows reports that Iran had provided an updated proposal for a deal to end the war. The White House indicated it doesn't reflect a meaningful improvement from a previous offer, Axios reported Monday, citing a senior US official and a source briefed on the matter.The Strait of Hormuz -- the world's most important chokepoint for crude flows -- remains largely shut as tensions between the US and Iran continue, with no end in sight."Progress on US-Iran peace talks continues to be immaterial, with both parties expressing a willingness to resume overt hostilities if the talks fail," Tudor Pickering Holt Analyst Matt Portillo said in a note sent earlier in the day.US Treasury yields were little changed in Monday late-afternoon trade, with the 10-year rate at 4.59% and the two-year rate at 4.07%.Nvidia (NVDA) shares fell 1.3%, the second-worst performer on the Dow. The chipmaking giant is expected to exceed Wall Street's first-quarter estimates and guide above consensus amid positive data points, Wedbush Securities said.Nvidia is scheduled to release its latest quarterly results after the markets close Wednesday.Retail giants Walmart (WMT), Home Depot (HD), TJX (TJX), Lowe's (LOW) and Target (TGT) are also expected to report this week. Home Depot and Lowe's are likely to lower their full-year guidance as the home improvement retailers face pressure from weak consumer sentiment, Oppenheimer said in a note.NextEra Energy (NEE) and Dominion Energy (D) agreed to merge in all-stock deal to create the largest regulated electric utility in the world. Dominion shares jumped 9.4%, the second-biggest gainer on the S&P 500, while NextEra fell 4.6%.In economic news, US homebuilder confidence unexpectedly rose this month despite elevated mortgage rates, macro uncertainty and continued affordability challenges, data from the National Association of Home Builders and Wells Fargo showed."Soft homebuilder sentiment is consistent with our view that housing starts will mostly move sideways for the next couple of quarters before starting to edge up slightly around year-end, when we expect mortgage rates to be lower as the (Federal Reserve) implements the first of two rate cuts we expect," Oxford Economics said in a note.Gold was up up 0.1% at $4,564.40 per troy ounce in Monday late-afternoon trade, while silver rose 0.3% to $77.80 per ounce.

Dow JonesNasdaq CompositeS&P 500$D$HD$LOW$NEE$NVDA$TGT$TJX$WMT
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) rising 1.4% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) shedding 0.5%.In corporate news, Imax (IMAX) seems on track to hit $1.4 billion in global box office collections this year despite a series of headwinds, including certain film delays, B. Riley Securities said in a note. Imax shares were up almost 2%.Ryanair (RYAAY) said it has contingency plans for an "armageddon" jet fuel scenario and warned weaker European carriers may not survive if high fuel prices persist, CNBC reported Monday. Its shares rose 5%.Lululemon Athletica (LULU) sent a letter to shareholders on Monday saying that activist and founder Chip Wilson has "outdated perspectives" and "troubling conflicts of interest," which will derail the company's turnaround plan, CNBC reported. Lululemon shares increased 0.9%.Home Depot (HD) and Lowe's (LOW) are likely to lower their full-year guidance as the home improvement retailers face pressure from weak consumer sentiment, Oppenheimer said in a report. Home Depot shares were up 0.8%, and Lowe's was little changed.

$HD$IMAX$LOW$LULU$RYAAY
Equities Mixed Intraday, Oil Rises as Traders Track Middle East Developments
Wire

Equities Mixed Intraday, Oil Rises as Traders Track Middle East Developments

US benchmark equity indexes were mixed after midday Monday as oil prices rose amid new developments in the Middle East conflict, while traders braced for Nvidia's (NVDA) latest financial results due out later in the week.The Nasdaq Composite was down 0.7% at 26,049.9 intraday, while the S&P 500 shed 0.3% to 7,387.2. The Dow Jones Industrial Average was 0.1% higher at 49,571.2. Most sectors were in the green, led by energy, while technology saw the steepest decline.West Texas Intermediate crude was up 1.5% at $107.01 per barrel, while Brent rose 1.4% to $110.84.Iran has provided an updated proposal for a deal to end the war with the US, though the White House indicated it doesn't reflect a meaningful improvement from a previous offer and is insufficient, Axios reported Monday, citing a senior US official and a source briefed on the matter.The Strait of Hormuz -- the world's most important chokepoint for crude flows -- remains largely shut as tensions between the US and Iran continue, with no end in sight. Over the weekend, US President Donald Trump said the "clock is ticking" for Iran to strike a deal.US Treasury yields were mixed intraday Monday, with the 10-year rate up 1.2 basis points at 4.61% and the two-year rate little changed at 4.08%.Nvidia shares were down 1.8%, the second-worst performer on the Dow. The chipmaking giant -- which is scheduled to release its latest quarterly results after the markets close Wednesday -- is considered by many investors as the "scoreboard" for the artificial intelligence boom, Saxo Bank said in a note Monday."The company does not only need to show that demand remains strong. It may need to show that demand is still accelerating, margins remain resilient, competition risk is contained, supply constraints are manageable, and China risk is manageable," Saxo said. "That is a high bar. And when the bar is high, even good news can create volatility."Retail giants Walmart (WMT), Home Depot (HD), TJX (TJX), Lowe's (LOW) and Target (TGT) are also expected to report this week.Home Depot and Lowe's are likely to lower their full-year guidance as the home improvement retailers face pressure from weak consumer sentiment, Oppenheimer said in a note.NextEra Energy (NEE) and Dominion Energy (D) agreed to merge in all-stock deal to create the largest regulated electric utility in the world. Dominion shares were up 8.6% intraday Monday, the second-biggest gainer on the S&P 500, while NextEra fell 6.6%.In economic news, US homebuilder confidence unexpectedly rose this month despite elevated mortgage rates, macro uncertainty and continued affordability challenges, data from the National Association of Home Builders and Wells Fargo showed."Soft homebuilder sentiment is consistent with our view that housing starts will mostly move sideways for the next couple of quarters before starting to edge up slightly around year-end, when we expect mortgage rates to be lower as the (Federal Reserve) implements the first of two rate cuts we expect," Oxford Economics said in a note.Gold was down 0.2% at $4,553.40 per troy ounce, while silver fell 0.2% to $77.41 per ounce.

Dow JonesNasdaq CompositeS&P 500$D$HD$LOW$NEE$NVDA$TGT$TJX$WMT
Sectors

Sector Update: Consumer Stocks Mixed in Afternoon Trading

Consumer stocks were mixed Monday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) adding 0.8% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) easing 0.1%.In corporate news, Lululemon Athletica (LULU) sent a letter to shareholders on Monday saying that activist and founder Chip Wilson has "outdated perspectives" and "troubling conflicts of interest," which will derail the company's turnaround plan, CNBC reported. Lululemon shares increased 0.6%.Home Depot (HD) and Lowe's (LOW) are likely to lower their full-year guidance as the home improvement retailers face pressure from weak consumer sentiment, Oppenheimer said in a report. Home Depot shares were up 0.3%, and Lowe's was flat.Macy's (M) shares added 0.5% after Berkshire Hathaway (BRK.A) (BRK.B) disclosed a roughly $55 million investment in the company, representing nearly 1.1% of the retailer.

$HD$LOW$LULU$M

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