Consumer Cos up After Target, Lowe's Earnings

Dow Jones08-20 06:14

Consumer companies rose after generally strong earnings.

Target shares rose by more than 4% after the discounter again raised its fiscal-year growth projections, the latest evidence that a turnaround effort is bearing fruit.

Lowe's shares rose even after the home-improvement chain cut its growth projections for the year, warning that consumers were delaying major renovation projects.

Estee Lauder rallied after it posted a narrower fiscal fourth-quarter loss, in another example of a turnaround gaining momentum.

Still, Target, Lowe's and Estee Lauder are all trading significantly shy of all-time highs.

Shares of Walmart fell ahead of its earnings report.

The Federal Trade Commission warned retailers that using smart-phone data to track shopping habits could violate consumer-protection law.

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