Another positive earnings report from a home improvement retailer. Lowe's (LOW) says both earnings and revenue came in above expectations. Lowe's says both indoor and outdoor products sold well. Yesterday, Home Depot (HD) beat earnings expectations Tuesday. Goldman Sachs is issuing a word of warning this morning. The investment bank is telling clients to forget about equities for the next 12 months and look to credit for returns instead. Goldman says equities are neutral and in slow growth environment there may not be much upside. Credit, especially high-yield bonds, have much more favorable valuations, according to Goldman. Valeant (VRX) is said to be considering selling its skin and cancer drugs to reduce debt. Bloomberg reports the sale could raise as much as $1 billion and would attract other drugmakers with interests in those areas. Valeant's new CEO Joe Papa is seeking to turnaround the company which has been battered by an accounting scandal and government investigations.
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