What to Watch: November 19, 2012
From Fnno.com, this is the Financial News Network. Here's a few things to watch for in the financial world today November 19.
Lowe's (NYSE:LOW) kicking this week off with its third quarter earnings release. The home improvement retailer saw profits increase 76% from the same time last year, with earnings per share coming in at 35 cents, inline with estimates. Revenue for the quarter also rose 1.9% to $12.07 billion, higher than the $11.92 billion analysts were expecting. The company also saw momentum in its sales going into the final fiscal quarter, with a rise of 1% in same-store sales, higher than the forecasted 0.5%. The rise in profits, the company said, is due to its new low-pricing strategy and focus on online sales to compete with its rival Home Depot (NYSE:HD).
Tyson Foods (NYSE:TSN) also seeing a rise in its earnings. The food company reported a 91% increase in profits, with an EPS of 55 cents on revenue of $8.37 billion. Analysts were expecting earnings of 44 cents on revenue of $8.48 billion. Tyson has been cuttings is costs and debt in an effort to combat the rise in food costs over the past year. President and Chief Executive Donnie Smith said the company is "rising above the noise of commodity markets" and believes they now have a truly sustainable business.
Finally, Nintendo (PINK:NTDOY) is being watched this morning due to the launch of its newest console, the Wii U. With the busy holiday season upon us, the gaming company is hoping to bank on consumers wanting the latest and greatest console on the market. Much like its predecessor, the Wii, this system could be a rare sighting on store shelves due to the expected demand this year. However, according to market research by IHS iSuppli, this new console may have trouble matching its predecessor's long-term success due to the rise in mobile gaming on smartphones and tablets. No matter what though, the launch of the Wii U this morning is definitely kicking off this year's shopping season...good news for retailers across the country.
Those were a few things to watch out for here on the Financial News Network. For more coverage and analysis of the business world follow us on twitter @FNNOnline or check out our website at fnno.com.
