Lowe’s announced on Monday its CEO, Robert Niblock, will retire from the home improvement retailer as soon as the company finds a successor. Niblock had been with Lowes for 25 years, including 13 years as its chairman and CEO. Lowe’s has continued to increasingly lag behind its largest rival, Home Depot. In the most recent quarter, same-store sales climbed little more than 4 percent while Home Depot reported an increase of 7.5 percent. The North Carolina-based retailer appointed new board members after activist D.E. Shaw & Co built a stake in January. Shares of the company climbed on Monday.
GlaxoSmithKline Plc has agreed to buy out Novartis AG’s stake in their consumer-health joint venture for $13 billion.The move will give Glaxo full control of the Theraflu cold medicine and Panadol pain reliever business. The joint venture was formed in 2015 as part of a sweeping revamp that included Novartis over-the-counter business with GSK consumer healthcare business. The deal is expected to close in the second quarter.
Asia: Asian markets rallied on Tuesday as investors reacted to the news the U.S and China are moving toward easing trade tensions.
Europe: European markets closed lower on Monday as investor remained troubled about the possibility of a trade war.
U.S: U.S markets closed higher on Monday as investors jitters seemed to ease DJIA: +669.40 24202.60 Nasdaq:+227.88 7220.54 S&P: +70.29 2658.55
Word of The Day:
A trading strategy based on quantitative analysis, which relies on mathematical computations and number crunching to identify trading opportunities. Generally used by financial institutions and hedge funds where the transactions are usually large in size involving the sale of hundreds of thousands of shares.
Dinner or Drink:
- 1-part Midori® Melon Liqueur
- 1-part Pinnacle® Original Vodka
- 1-part Cranberry Juice
- 3 – 4 Strawberries
- 1 Cucumber
Muddle a few strawberries and two thick round slices of cucumber well, add the remaining ingredients and shake with ice. Double strain into a chilled cocktail glass and garnish with a strawberry and cucumber wheel.
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