NEW YORK ( TheStreet) -- TheStreet's Debra Borchardt went through the morning rundown and what happened before the bell Wednesday.
Toll Brothers reported a 46% rise in quarterly profits and has indicated that the housing recovery is strong. Borchardt added, the homebuilder "sold more homes, at higher prices."
Lowe's (LOW - Get Report) was down in the pre-market after reporting weaker-than-expected earnings. Lowe's blamed the cold, spring weather for dampening sales and increased competition from Home Depot (HD).Finally Borchardt touched on Target (TGT - Get Report), who also reported earnings before the bell. Target had previously warned that earnings would be soft, but still managed to miss both the top and bottom lines. Management blamed weak sales in apparel due to seasonality issues with the weather. "There we go, blame it on the rain again," said Borchardt, referencing how many companies have blamed weak sales this quarter on the cold weather. --By Bret Kenwell in New York.
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