Shares of Lowe's Companies, Inc. (NYSE:LOW) are trading lower Tuesday afternoon. This decline comes as part of a broader sell-off in building-related stocks, prompted by Pool Corporation's (NASDAQ:POOL) revised earnings guidance for 2024.
What's Happening: Pool Corporation, the world's largest wholesale distributor of swimming pool and related backyard products, has significantly revised its 2024 earnings forecast due to a challenging macroeconomic environment. The company now expects a 15% to 20% drop in new pool construction and remodeling activity for the year.
Impact On Lowe's: As a major supplier of home improvement and building materials, Lowe's is feeling the ripple effects of Pool Corp's guidance cut. The reduced discretionary spending on big-ticket items like swimming pools and outdoor living projects has raised concerns about potential declines in sales for related home improvement products.
LOW Price Action: Lowe shares were down by 4.76% at $217.5 at the time of writing, according to Benzinga Pro.
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オーストラリアでは、moomooの投資商品及びサービスはMoomoo Securities Australia Limitedによって提供され、オーストラリア証券投資委員会(ASIC)の管理を受けております(AFSL No. 224663)。「金融サービスガイド」、「利用規約」、「プライバシーポリシー」などの詳細は、Moomoo Securities Australia Limitedのウェブサイトhttps://www.moomoo.com/auでご確認いただけます。