Afternoon Market Update (LOW, M, TRI)

Lowe’s Co LOW posted a 2.7% increase in its Q1 profit, driven by the demand for bigger-ticket items from refrigerators. Even after reporting better-than-expected profit, the shares of LOW dropped by 4.6%, as the company gave Q2 forecasts that were below Street expectations. The Chief Executive Robert Niblock said, "We're still somewhat cautious regarding the state of the consumer and the economy." Analysts at Moody's Investors Service upgrade Macy's Inc M from “Ba2” to “Ba1.” The upgrade in rating reflects “Macy's material improvement in credit metrics due to very strong first quarter results and debt repayments.” According to Maggie Taylor, Moody's senior analyst, "We believe the improvement in credit metrics is sustainable and expect they will continue to improve over the next twelve months.” Thomson Reuter TRI has announced the deal to buy Brazil’s publishing house, Revista dos Tribunais, which has around 300 persons and 43 branches. The company hasn’t disclosed the financial terms of the deal. Read more from Benzinga's Company news.