Shares of Lowe’s Companies
LOW,
-5.37%

sank 4.9% in morning trading Tuesday, a day before fiscal second-quarter results are scheduled to be reported, as they suffered collateral damage from yet another disappointing earnings report from larger rival Home Depot Inc.
HD,
-4.38%

earlier. The stock was headed for the biggest one-day decline since it fell 8.2% on Nov. 18, 2020. Home Depot’s stock slumped 4.8%, also on track for the biggest selloff in nine months, and to extend the streak of one-day post-earnings declines to eight quarters. Lowe’s is scheduled to report earnings before Wednesday’s opening bell. The stock has declined post-earnings the past three quarters. The FactSet consensus for earnings per share is $4.01, for sales of $26.76 billion and for same-store sales is a 2.1% decline. Lowe’s stock has shed 5.2% over the past three months, while Home Depot shares have slipped 0.3% and the Dow Jones Industrial Average
DJIA,
-0.80%

has gained 3.0%.

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