U.S. stocks move: Lowe's drops 4.8% to nearly an 11-month low as Q1 same-store sales growth falls short of expectations

Glonhui May 20 | U.S. major home improvement retailer Lowe's (LOW.US) once fell about 4.8% at the beginning of trading, hitting a low of $208, the lowest since June last year. In terms of news, Lowe's Q1 revenue was $23.1 billion, up 10.4% year-on-year, and adjusted earnings per share were $3.03, both exceeding expectations. During the period, same-store sales increased by 0.6%, which was lower than market expectations. Lowe's reiterated its full-year performance forecast and stated that the macro real estate market environment remains challenging.