Monday, May 16, 2011

Monday’s Stocks to Watch: Lowe’s, J.C. Penney

Here are a few stocks to keep on your radar: Shares of Lowes (NYSE: LOW )
fell 2.8% in early Monday trading after the company missed Wall Streets
first-quarter profit and revenue estimates and warned that full-year results
also would miss analysts current expectations. Rival Home Depot (NYSE: HD )
slipped 0.3%. J.C. Penney (NYSE: JCP ) gained 5.3% after the company beat
first-quarter earnings estimates and said full-year profit would come in above
Wall Streets consensus forecast. Joy Global (NASDAQ: JOYG ) rose 1.1% after
news that the company has agreed to buy Rowans (NYSE: RDC ) LeTourneau Tech
mining equipment unit for $1.1. billion. Rowan shares were up 4.1%. NYSE
Euronext (NYSE: NYX ) tumbled more than 10% on news that Nasdaq OMX (NASDAQ:
NDAQ ) and IntercontinentalExchange (NYSE: ICE ) had each withdrawn offers to
acquire the exchange following discussions with the Justice Department over
antitrust concerns. Nasdaq shares fell 0.3%, and Intercontinental gained 3.2%.

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