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Better than expected: Lowe’s on Wednesday stood by its full-year forecast, as growing sales among home professionals helped offset slower demand from do-it-yourself customers. The home improvement retailer came in just shy of Wall Street’s expectations for quarterly sales, but beat earnings estimates. Read more from CNBC.
An intensifying fight: Phillips 66 and Elliott Investment Management split a heated boardroom battle that culminated Wednesday with Elliott winning two of the four seats it wanted on the oil refiner’s board. The outcome shows that shareholders wanted some change but rejected Elliott’s call for a more sweeping board makeover. Read more from The Wall Street Journal.
Amended: Sales at Target fell more than expected in the first quarter, and the retailer warned they will slip for all of 2025 as its customers, worried over the impact of tariffs and the economy, pull back on spending. Target also said that a boycott by customers over the company’s scaling back of its DEI initiatives also hurt sales during the latest quarter. Read more from the Associated Press.
