Financial News

Lowe's moves higher after reports that it could triple in value (LOW)

Wikicommons

  • Shares of Lowe's jumped after news that an activist investor that recently bought a stake in the company sees the company as worth triple its value.
  • Activist investor D.E. Shaw believes the home retailer can measure up to its rival Home Depot if it makes the right changes, anonymous sources told Bloomberg.
  • The company has paled in comparison to Home Depot in terms of revenue, earnings, and costs despite close similarities between the two companies, according to reports. D.E. Shaw maintains the company's focus should be on improving sales, especially its online offerings and marketing.
  • Lowe's announced on Friday that it will add three new directors to its board.
  • Though it was not previously disclosed, D.E. Shaw's stake in the company was worth around $1 billion, Bloomberg reported.
  • Lowe's stock was up 3.26% at $104.65 per share. It was up 14.24% for the year.
  • Watch Lowe's stock price move in real-time here.
Read more about why Lowe's could have so much potential here.

NOW WATCH: The chief global strategist at Charles Schwab says stocks will keep soaring in 2018

See Also:

SEE ALSO: CREDIT SUISSE: There are 3 reasons why an activist investor could be interested in Lowe's

Data & News supplied by www.cloudquote.io
Stock quotes supplied by Barchart
Quotes delayed at least 20 minutes.
By accessing this page, you agree to the following
Privacy Policy and Terms and Conditions.

Use the myMotherLode.com Keyword Search to go straight to a specific page

Popular Pages

  • Local News
  • US News
  • Weather
  • State News
  • Events
  • Traffic
  • Sports
  • Dining Guide
  • Real Estate
  • Classifieds
  • Financial News
  • Fire Info
Feedback