The leaders of Japan and China got off to a tense start but have made significant progress in turning around their relations in recent years.Asia Politicsread more
Tech's hottest IPOs of the year, including Beyond Meat and Zoom, dropped on Monday, falling more than the broader market.Technologyread more
Citi Private Bank says it has maintained an "overweight" stance on stocks in China, Hong Kong, Taiwan and South Korea.Asia Marketsread more
Stocks in Asia slipped on Tuesday, while investors looked toward a meeting between U.S. President Donald Trump and Chinese President Xi Jinping set to happen later in the...Asia Marketsread more
A week of dovish fireworks out of the central banking community has just gone by with most of the world's leading central banks now guiding towards easing in light of downside...Commentaryread more
"We do not seek conflict with Iran or any other country," Trump tells reporters in the Oval Office.Politicsread more
Chinese Vice Premier Liu He held a phone conversation with U.S. Trade Representative Robert Lighthizer and U.S. Treasury Secretary Steven Mnuchin, China's Ministry of Commerce...World Economyread more
Sen. Bernie Sanders announced a plan Monday to forgive the country's $1.6 trillion outstanding student loan tab, intensifying the higher education policy debate in the 2020...Personal Financeread more
While earnings usually come in substantially ahead of expectations — as much as 4 or 5 percentage points is not unusual — the downward direction in the outlook doesn't speak...Earningsread more
U.S. President Donald Trump's senior adviser Kellyanne Conway will not testify before the House of Representatives Oversight Committee this week on her alleged violations of...Politicsread more
"We missed being the dominant mobile operating system by a very tiny amount. We were distracted during our antitrust trial. We didn't assign the best people to do the work,"...Technologyread more
Activist investor D.E. Shaw & Co. has built an active stake in U.S. home improvement retailer Lowe's, sources tell CNBC.
The firm is concerned about Lowe's performance relative its peers, the sources said. D.E. Shaw is not planning to push for consolidation with another home retailer at this time.
D.E. Shaw and Lowe's both declined to comment.
Shares of Lowe's, which has a market capitalization of $83.6 billion, climbed more than 5 percent Friday afternoon when Bloomberg first reported on the position. Shares of Home Depot also briefly jumped on the news.
Lowe's has by and large lagged behind its biggest rival Home Depot. The company has made efforts to catch up to the Atlanta-based retailer in part by mimicking its strong professional and contracting business. These efforts include two acquisitions worth more than $500 million announced last May.
Lowe's, which some analysts say has weaker real estate than Home Depot, has also seen its same-store sales growth lag behind its rival.
Both have benefited from a recent slew of devastating hurricanes in the U.S., which sent shoppers to their stores in droves to pick up relief supplies and rebuilding materials. Emergencies tend to benefit brick and mortar retailers over online players, because they can offer needed supplies immediately.
The two compete with Ikea and and e-retailer Wayfair. Amazon has so far posed less of a threat, in part because of the expense attached to shipping heavy home improvement items.
Looking ahead, Lowe's has said it expects revenue to increase roughly 5 percent by the end of fiscal 2017, with sales at its established stores rising 3.5 percent. Lowe's is also on track to have added about 25 home improvement and hardware stores before the end of its fiscal fourth quarter.
In an attempt to lure younger shoppers, Lowe's has been experimenting with technology and opened up "smart home centers " at some locations ahead of the holidays.
Lowe's stock is up more than 40 percent from a year ago, while shares of Home Depot have climbed more than 45 percent over the same period.