Rallies Built on Sand
Lowe's (LOW) shares have been racing higher amid investors' big bet on a gigantic housing recovery. In just four months the stock has risen almost 45%. Have investors built a house of cards or will the shares continue to go through the roof?
On Monday, Lowe's reported that fiscal fourth-quarter earnings rose 13% to $322 million, or $0.26 per share. Store closures and various one-time items reduced earnings by $0.03 a share, but the extra week in the quarter added about a nickel to the results, and $766 million in revenue....398 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.
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