Lowe’s Inc. (LOW) Sales Beat Estimates As Housing Market Strengthens

Home improvement chain Lowe’s Cos. Inc. followed larger rival Home Depot Inc. in reporting better-than-expected quarterly sales as strength in the housing market and favorable weather led to strong demand for building and home renovation products.

Shares of the company, which also raised its profit forecast for the year ending January 2017, were up almost 3 percent in early trading.