Lowe's Companies Inc. (LOW) reported second quarter EPS of $0.64 Monday morning, unchanged from the prior year result. The consensus estimate was for EPS of $0.70. Full year 2013 EPS is expected to be around $1.64, down from previous guidance of $1.73 to $1.83. The consensus estimate is for EPS of $1.80.
Lowe's gapped open lower Monday and slipped further in the first 2 hours of trade. The stock closed down by 1.61 at $26.26 on strong volume. Lowe's dropped to a week and a half low and slipped beneath its 50 and 200-day moving averages.
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