Home Depot (HD), Lowe's (LOW) Firm Amid Existing-Home Sales Growth Miss
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Shares of The Home Depot (NYSE: HD) and Lowe's Cos. (NYSE: LOW) are higher early amid existing home sales numbers showing gains in July, but not what markets were expecting.
According to the National Association of Realtors (NAR), existing-home sales were 4.47 million in the month, a gain of 2.3 percent from 4.37 million in June. The Street was looking for a 3.2 percent gain to 4.51 million.
June's sales fell 5.4 percent.
Numbers offset some positive momentum from Toll Brothers (NYSE: TOL), which reported third-quarter results earlier, while issuing fourth-quarter expectations in the process. Despite the lagging sales number, shares of Toll Brothers are up 5.5 percent.
According to the National Association of Realtors (NAR), existing-home sales were 4.47 million in the month, a gain of 2.3 percent from 4.37 million in June. The Street was looking for a 3.2 percent gain to 4.51 million.
June's sales fell 5.4 percent.
Numbers offset some positive momentum from Toll Brothers (NYSE: TOL), which reported third-quarter results earlier, while issuing fourth-quarter expectations in the process. Despite the lagging sales number, shares of Toll Brothers are up 5.5 percent.
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