NEW YORK -- Lowe's (LOW), the home-improvement retailer, posted third-quarter results that exceeded forecasts as same-store sales for the period rose 1.8%.
Adjusted earnings were 40 cents a share on revenue of $12.07 billion; analysts on average were expecting earnings of 35 cents a share in the third quarter on revenue of $11.91 billion.
Lowe's shares were rising 3.9% in premarket trading Monday to $33.21.
5 Dividend Stocks Itching to Pay You More
Cisco Systems (CSCO), the networking giant, announced Sunday it was buying cloud computing company Meraki for $1.2 billion. Meraki, based in San Francisco, will form Cisco's new Cloud Networking group, which will be led by Meraki CEO Sanjit Biswas. Cisco shares were rising 1.3% to $18.22 in premarket trading.
Retailer Urban Outfitters (URBN) is expected to earn 41 cents a share in the third quarter on revenue of $692.4 million. Clues to E-Commerce Success
Tyson Foods (TSN) posted fiscal fourth-quarter adjusted earnings of 55 cents a share on sales of $8.37 billion. analysts forecast earnings of 44 cents a share on sales of $8.49 billion.
Earnings are also expected Monday from Jack in the Box (JACK), Krispy Kreme (KKD), Agilent (A)and Brocade (BRCD).
BioMimetic Therapeutics (BMTI)shares rose 82% to $7.57 after it announced Monday an agreement to combine its business with Wright Medical (WMGI).
News Corp (NWSA) is expected to announce this week that it will acquire a 49% in the YES Network from the New York Yankees and its partners, according to Reuters, which cited a person with knowledge of the talks. The deal would would value the sports channel at $3 billion, Reuters said. An Assault on Yield-Oriented ETFs
-- Written by Joseph Woelfel
>To contact the writer of this article, click here: Joseph Woelfel >To submit a news tip, send an email to: tips@thestreet.com.
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