Stocks in the news: Lowe's, Charles Schwab, BB&T

The following post rounds up the companies making headlines today:

Lowe's Cos. (LOW) reported a 19 percent second quarter earnings decline to $759 million, or 51 cents per share, below analyst estimates of 54 cents a share. The company blamed poor weather and cautious consumer spending. Sales dropped 5 percent, more than estimates. Lowe's said it will scale back new store openings in its next fiscal year and forecast earnings below expectations. Shares plunged 9.8 percent in pre-market trade.

Charles Schwab (SCHW) may find itself as a defendant in a lawsuit soon, according to a report in the Wall Street Journal. New York state's attorney general, Andrew Cuomo, is expected to file a lawsuit as soon as Monday against Schwab, alleging civil fraud related to the brokerage firm's marketing and sales of auction-rate securities. Shares fell 2.2 percent ahead of the bell.

BB&T Corp. (BBT) said Monday that it has commenced a public offering of $750 million of common stock. The group said proceeds will boost its equity capital and will be used for general corporate purposes. That's after, on Friday, BB&T agreed to buy the assets of Colonial Bank (CNB). BBT shares declined 3.3 percent.

Berkshire Hathaway Inc. (BRK.A, BRK.B) and Berkshire Hathaway Finance Corp. have extended the expiration date of a registered exchange offer -- up to $1 billion in newly registered notes -- to Aug. 21. Shares dropped nearly 4 percent.

Genzyme (GENZ) has been delivered another blow today as the FDA approved Protalix BioTherapeutics treatment protocol for Gaucher disease. A shortage of Genzyme's own blockbuster Gaucher treatment drug due to shutdown of the plant has expedited the FDA's process. Shares were 1 percent lower.

Walmart (WMT) was upgraded from Hold to Buy at Rochdale Securities. Target price upped from $55 to $65.

Gilead Sciences Inc. (GILD) said Friday evening that it has received a subpoena from the U.S. Department of Health and Human Services requesting documents about the development, marketing and sales of Ranexa, which is used to treat chronic angina.

CIT Group (CIT) said on Monday that it has completed a tender offer for debt maturing today. The company said that 59.81 percent of the total $1 billion Floating Rate Senior Secured Notes outstanding were validly tendered and not withdrawn, an amount in excess of the minimum condition.

Novartis (NVS) said Monday that the FDA has approved its multiple sclerosis medicine Extavia.On Sunday, it said it sued GlaxoSmithKline (GSK) over a vaccine patent.

Apple Inc. (AAPL) -- The Sunday Times wrote a big article about CEO Steve Jobs. "Apple Inc is worth around $140 billion. But is it worth anything without Jobs?" the article asks.

Cramer says these ten stocks are worth watching today: Citigroup (C), Bank of America (BAC), Google (GOOG), Apple (AAPL), Intel (INTC), Conoco (COP), Occidental (OXY), Medco Health (MHS), Express Scripts (ESRX) and Colgate (CL).

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