Monday, November 14, 2011
Lowe's losing business to Home Depot...
Lowe's Cos Inc (LOW). The company saw its quarterly profit fall more than 40 percent as the home improvement retailer keeps losing business to market leader Home Depot Inc (HD). For the third quarter, it earned $225 million, or 18 cents a share, compared with $404 million, or 29 cents a share last year. Sales increased 2.3 percent to $11.9 billion.
Friday's recap...
Stocks jogged ahead Friday in quiet trade, with several indexes erasing all of the week's losses.
The S&P 500 and the NYSE composite added 1.9% and 2.1%, respectively. The Nasdaq tacked on 2%. The Dow rose 2.2% as all 30 components rose. The average IBD 50 stock was up 2.2%.Volume fell sharply across the board.
With Veterans Day falling on a Friday, it's reasonable to assume some fund managers started the weekend early, resulting in less trading. The bond market was closed Friday.
The market remains a mixed bag — in an uptrend but under pressure. With only seven weeks of trade left this year, the time to redeem this stingy year is running out.
On the plus side, the indexes have recovered nicely from the year's lows on Oct. 4. The Nasdaq rose as much as 19.8% from the low and has given back only a few percentage points.
More breakouts among top-rated stocks have appeared since the Oct. 12 follow-through day.
The S&P 500 and the NYSE composite added 1.9% and 2.1%, respectively. The Nasdaq tacked on 2%. The Dow rose 2.2% as all 30 components rose. The average IBD 50 stock was up 2.2%.Volume fell sharply across the board.
With Veterans Day falling on a Friday, it's reasonable to assume some fund managers started the weekend early, resulting in less trading. The bond market was closed Friday.
The market remains a mixed bag — in an uptrend but under pressure. With only seven weeks of trade left this year, the time to redeem this stingy year is running out.
On the plus side, the indexes have recovered nicely from the year's lows on Oct. 4. The Nasdaq rose as much as 19.8% from the low and has given back only a few percentage points.
More breakouts among top-rated stocks have appeared since the Oct. 12 follow-through day.
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