Lowe's rallies after solid quarterly report and new buyback

Lowe's (LOW) reports comparable-store sales increased 3.9% during FQ4.

Gross margin improved 40 bps to 34.67% during the period.

The company sets an additional buyback allowance of $5B.

For FY14, Lowe's expects total sales to increase 5% and EPS of $2.60 vs. $2.64 consensus.

LOW +6.0% premarket

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