NEW YORK (TheStreet) -- TheStreet's Debra Borchardt went through the morning rundown and what happened before the bell Wednesday.

Borchardt noted that investors are expecting to see solid numbers for existing home sales, especially after Toll Brothers' ( TOL) strong earnings report.

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) 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), 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.

Bret Kenwell currently writes, blogs and also contributes to Rocco Pendola's Weekly Options Newsletter. Focuses on short- to intermediate-term trading opportunities that can be exposed via options. He prefers to use debit trades on momentum setups and credit trades on support/resistance setups. He also focuses on building long-term wealth by searching for consistent, quality dividend paying companies and long-term growth companies. He considers himself the surfer, not the wave, in relation to the market and himself. He has no allegiance to either the bull side or the bear side.

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