Lowe’s stock hammered after earnings, sales miss estimates

Share price of Lowe’s Cos. Inc. is down close to 7% this morning after the Mooresville-based company’s second-quarter earnings and sales revenue fell short of analysts’ estimates. Shortly before noon, Lowe’s stock was trading at $75.99, down $5.49 from Tuesday’s closing price. Before the market opened for the day, Lowe’s announced a quarterly profit of $1.17 billion, or $1.31 a share, which is up from $1.13 billion, or $1.20 a share, a year ago. Revenue was up by more than 5% to $18.3…

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