Lowe's CEO warns of continued weakness in housing

NEW YORK - Shares of Lowe's Cos. declined on Thursday, after Chief Executive Robert Niblock warned that the housing market remains difficult, given high inventory of unsold homes, tight credit and rising unemployment. Shares of the home improvement retailer slipped 90 cents, or 3.4 percent, to $25.81 in afternoon trading. At a Goldman Sachs retail conference, Niblock warned that housing prices are likely to keep... [read full story]