Lowe's earnings, S&P downgrades U.S. banks, Arm IPO: 3 Things

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Lowe's (LOW) topped second-quarter earnings estimates, maintaining its full-year forecasts for $87 to $89 billion in sales. S&P Global Ratings downgraded five regional U.S. banks. SoftBank's (SFTBY, 9984.T) semiconductor developer Arm files for its IPO listing on the Nasdaq. Yahoo Finance's Brad Smith highlights the top three developing stories this morning.