Shares of Lowe’s Companies

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.

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

has gained 3.0%.

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