Lowe’s tops Home Depot with an $8.8 billion buyout deal and an earnings beat
1. Lowe's announced an $8.8 billion acquisition of Foundation Building Materials. 2. Lowe's fiscal Q2 results beat expectations; net income rose to $2.4 billion. 3. Adjusted EPS increased 5.6% to $4.33, above analyst estimates. 4. Shares rose 2.7% in premarket, approaching a seven-month high. 5. Lowe's raised its full-year EPS and sales guidance significantly.