Lowe's seesaws on higher Q2 profit, cutting annual forecasts
** Shares of Lowe's LOW.N seesaw in premarket trading, ranging between $238 and $247, compared to last close of $243.21; last down about 1%
** Co cuts annual forecasts on weak home improvement demand
** Expects FY24 comparable sales drop of 3.5% to 4.0% vs prior forecast of a 2% to 3% fall
** Sees annual EPS of $11.70-$11.90 vs $12.00-$12.30 previously
** Co's quarterly comparable sales fell 5.1% vs estimates of 4.11% decline as per LSEG
** However, co posts Q2 adj. profit of $4.10/shr vs est. of $3.97/shr
** Shares of peer Home Depot HD.N down marginally premarket
** Up to last close, LOW up about 9% YTD while HD is up about 4.8%
Reporting by Anuja Bharat Mistry in Bengaluru
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