Lowe's (LOW) Shares Fall 3% Despite Positive Results

Shares of Lowe's Companies, Inc. LOW closed Monday trading down 3.11% at $25.26 per share. Lowe's Companies, Inc. on Monday before the market opened released financial results that beat Wall Street expectations. The home improvement chain reported that its 1st quarter earnings rose to $489 million, or 34 cents per share, up from $476 million, or 32 cents per share, a year earlier. Revenue was up 4.7% to $12.39 billion. A poll of analysts conducted by Thomson Reuters, showed an average Wall Street estimate of expected earnings of 31 cents per share, on revenue of $$12.24 billion. Lowe's Cos. also raised full-year earnings guidance to a range of $1.37 to $1.47 per share.