The US stock market had a mix of good and bad. Some stocks did well and others didn't. Lowe's, a big home improvement store, shared that they made more money than people thought, but they also sold less stuff than they wanted to. This is affecting how much money they think they'll make in the rest of the year. Read from source...
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Lowe's Companies, Inc. (LOW) reported a decline in comparable sales and revised its FY24 outlook downward. Lowe's revised its FY24 outlook, citing lower-than-expected DIY sales and a pressured macroeconomic environment. The company now projects total sales between $82.7 billion and $83.2 billion, down from the previous range of $84 billion to $85 billion. Adjusted EPS is projected to be between $11.70 and $11.90, compared to the earlier range of $12.00 to $12.30.
Considering the mixed results, investors should approach Lowe's with caution and diversify their portfolios with other home improvement stocks or sectors.
Investors could also consider Mynaric AG (MYNA) and ENDRA Life Sciences Inc. (NDRA), whose shares dropped by 55% and 41%, respectively. Companies that have recently submitted requests to withdraw S-1 registration statements, such as Treasure Global Inc. (TGL), should be thoroughly researched and evaluated before investing.
InMed Pharmaceuticals Inc. (INM), on the other hand, saw its shares surge by 338%, making it an attractive investment opportunity for those interested in the pharmaceutical and biotech sectors.
Overall, investors should maintain a diverse portfolio and conduct thorough research and evaluations of companies before making investment decisions. It is essential to stay up-to-date with market news and economic reports that may impact the performance of various stocks and sectors.