Lowe's shares set to climb on $8.8bn Foundation Building Materials deal, earnings beat

Lowe's Companies Inc (NYSE:LOW)) delivered a solid quarterly performance and announced a major acquisition aimed at deepening its reach into the professional construction market. The home improvement giant announced it would acquire California-based Foundation Building Materials for $8.8 billion, adding a distributor that serves around 40,000 professional customers across more than 370 North American locations.