Home Depot's (HD) third-quarter earnings came in 21% higher than the same period last year, beating analysts' estimates. For the quarter ended Oct. 31, the company reported a profit of $834 million or 61 cents a share, up from $689 million or 44 cents a share last year. Revenue rose 1.4% to $16.6 billion. Same-store sales increased 1.4% These results mark the fourth straight gain after three years of decline.

Chairman and Chief Executive Frank Blake said: "As the business stabilizes, we continue to improve our operational performance ... We are exercising good control over our expenses."

Lowe's (LOW), a home-improvement and do-it-yourself entity whose main competitor is the similarly themed Home Depot (HD), is currently down 3.6% in afternoon trading. Volume is particularly heavy.

Over the last year, the retailer has been working against the backdrop of a bad, but improving, economy. Although the stock isn't defined by a very wide range, with the 52-week low being roughly $18 and the 52-week high priced at over $28, and the movement isn't straight up, you can still interpret from the twelve-month chart a decidedly bullish sentiment toward the business and its equity.

You've got to take notice of The Home Depot Inc.'s (HD) fourth quarter. Check out Trey Thoelcke's article devoted to retail earnings published this afternoon. It provides a snapshot of data for the chain. It's impressive.

Besides beating earnings expectations, what most observers should focus on is the fact that this is the first quarter in a very, very long time that has seen appreciation in the same-store sales metric. Not a bad change of pace, huh? Those negative comps were becoming a little boring, quite frankly. Furthermore, the chain actually increased its quarterly dividend payout. This isn't insignificant; it clearly signals, in theory at least, a fundamental shift.

Lowe's Companies, Inc. (LOW) is much higher today than it was a year ago. In fact, it's near a 52-week high; at roughly $23 per share, the stock could eventually double the 52-week low of $13. With that in mind, how does the company look after the fourth-quarter report?

Lowe's, which competes with Home Depot, Inc. (HD), made 14 cents per share, three pennies higher than what was booked in the comparable period. Yeah, doesn't sound like much, but on a percentage basis, that translates to 27% growth. And it stacks up nicely against the fiscal-year performance, as Lowe's saw a decrease in earnings per share.

Also reporting earnings Tuesday morning was home-improvement retailer Home Depot (HD). The company announced that third-quarter earnings dropped 8.9% to 41 cents per share thanks to weak housing and home renovation markets. That was a nickel better than analysts' expectations.

Revenue dropped from a year ago as well, but the $16.36 billion in revenue was better than the expected $16.27 billion. The company also expects full-year earnings of $1.55 per share, which is better than the forecast $1.52 per share.

Lowe's (LOW) kicked off the week's earnings reports by posting third-quarter earnings of 24 cents per share, matching the consensus estimate. Revenue checked in at $11.4 billion, which -- while 3% lower than a year ago -- was better than the expected revenue of $11.28 billion. LOW's same-store sales dropped 7.5%.

Looking ahead, Lowe's forecast fourth-quarter earnings between nine and 13 cents per share and full-year earnings between $1.16 and $1.20 per share. Both of those forecast ranges surround the expected 10 cents per share and $1.20 per share, respectively. Lowe's also noted that it seems that some of the home markets feeling the biggest crunch in the economic crisis are stabilizing. Nevertheless, the home-improvement firm was negatively hit as customers were putting off larger purchases thanks to the economic situation.

Today started out strong with a weaker dollar ahead of tomorrow's FOMC meeting. We have a slew of data coming out the rest of the week and tomorrow's commentary on securities purchases and liquidity programs should likely beat out the notion that rates are still staying at near-zero percent.

Here are today's unofficial closing bell levels:

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S&P 500 1,071.63 +6.97 (0.65%)
Nasdaq 2,146.30 +8.26 (0.39%)

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On Tuesday morning, Lowe's (NYSE: LOW) issued a cautious earnings outlook for the coming year. On a more positive not, the home-improvement giant actually expects same-store sales to increase, bringing an end to several years of same store sales declines.

LOW's announcement was accompanied by a reiteration of its expectations for the fiscal year. It expects to open 66 stores this fiscal year, and as many as 45 in the next fiscal year (which starts on January 30). For the coming year, LOW believes it will earn $1.24 to $1.34 per share with revenue growth of 3% to 4% and a same-store sales rise of roughly 1%. The current estimates from the Street call for earnings of $1.34 per share and a 3% revenue increase.

Home improvement retailer Lowe's Companies (NYSE: LOW) will be reporting its second quarter earnings before the market opens on Monday, and there are some positive indicators that it may have been a good quarter for the company.

Over the past year, weak consumer confidence has put a strain on Lowe's, as home owners who have worried about job security and a weak housing market have put off home repair projects. As a result, Lowe's stock fell as low as $13.00 back in March, but has rebounded nicely over the past few months to its current trading price of $22.71.

"I have four Hurricane Season stock picks -- two bullish, two bearish -- to play this summer's potentially wild weather," says Sean Broderick in his Uncommon Wisdom advisory.

"Last year's stormy weather spawned 16 named storms, which was higher than the long-term average of about 10 tropical storms and six hurricanes per year in a typical Atlantic hurricane season.

"The major hurricane forecasters have now made their predictions, and it's for a 'moderate' hurricane season. That's good news for America's oil and gas industry.

What? Buy The Home Depot (NYSE: HD) after it reported Q1 EPS of 35 cents -- it beat the First Call Q1 EPS estimate of 29 cents – but failed to raise guidance? Indeed, the Buy rating has been generated. Here's why:

Home Depot's Q1 sales fell 9.7% and same store sales declined 10.2%. Those are pretty bad totals for key metrics, and of course the stock sold off some Tuesday, with short-term players taking profits. However, unless you believe the U.S. housing market and economy is likely to remain in recession for more than two quarters, those low sales totals sat up easier comparisons for next year, and the stock pull-back represents a buying opportunity.

So, the story doesn't start off so well. Lowe's (NYSE: LOW) issued its Q1 numbers earlier today, and right off the bat, beginning at the top line, you see that net sales declined over 1%. Then you notice that profit on a dollar basis plunged over 20%. Earnings per share? That also took a dive of over 20%.

Then you look at the stock. And you say to yourself, "what's going on?" As I write this, with less than three hours to go in the trading day, shares of Lowe's are trading almost 10% higher! On excellent volume, too. As you might have thought, an earnings beat was lurking somewhere in the plot of this particular tale. Lowe's earned $0.32 per share in Q1. According to Trey Thoelcke's earnings preview, the market thought that only $0.25 could be achieved. This differential is helping to fuel the buying.

Home-products retailer Williams-Sonoma (NYSE: WSM), which runs such retail brands as Pottery Barn and West Elm in addition to its namesake chain, issued Q4 numbers on Tuesday. Well, they weren't spectacular. Surprised? No, I'm sure you weren't. I mean, when you sell stuff for homes, you've got to expect that you're going to see some weakness. And there's plenty of it here.

Revenues decreased almost 27% during the quarter, and earnings per share on an adjusted basis dropped over 70% to 31 cents. That beat estimates of 16 cents per share, according to Reuters' analysts, but forgive me if I don't jump up and down over that performance. And what about same-store sales? They were mighty bad. On an overall basis, they went down by over 22%.

Home improvement retailer Lowe's (NYSE: LOW) said Friday its fourth-quarter profit fell 60% from a year ago, as consumers continued to shy away from big-ticket items, such as appliances and cabinetry.

Lowe's said it earned $162 million, or 11 cents per share, in the quarter ended Jan. 30 -- down from earnings of $408 million, or 28 cents per share, last year. Revenue fell 4% to $9.98 billion as same-store sales, a key measure of performance since it tracks growth at existing stores rather than newly opened ones, dropped 9.9%.

Masco Corp. (NYSE: MAS), which manufactures and installs building materials, announced its fourth quarter numbers Wednesday afternoon, falling short of analyst estimates.

Analysts had expected to see the company show a loss for its fourth quarter of 5 cents, but a tough sales environment pushed the company's loss much wider than expected, with a reported 18-cent loss per share.