Citi Reports Stronger-Than-Expected Quarter For Lowe's

According to Citi, Lowe's LOW delivered a stronger-than-expected quarter. Citi said that it was driven by tight expense control, share repurchases, and the initial success of its 5% Discount program, which was accretive to EBIT in the quarter. “We continue to prefer Buy-rated HD, which we believe has more immediate topline-driving initiatives in place.” Lowe's closed yesterday at $19.68.