Moe’s Market Memo – February 27, 2026
Weekly data-driven insights on the markets and economy
Mohammad Abouchleih, MBA, CIMA®
Investment Analyst
Lowe’s defies lows
Home improvement retailer Lowe’s beat quarterly revenue and earnings expectations on Wednesday, with sales rising more than 10% despite continued pressure in the housing market. CEO Marvin Ellison said inflation, economic uncertainty, and elevated mortgage rates are weighing on home-improvement demand, but the company’s focus on pro customers, digital improvements, and expanded services is helping drive growth.1
Meta-AMD megadeal
Meta announced a deal with AMD on Tuesday, agreeing to deploy up to six gigawatts of the chipmaker’s AI processors just one week after committing to millions of Nvidia units. The agreement includes a warrant allowing Meta to buy 160 million AMD shares, underscoring the scale of the partnership and AMD’s push to challenge Nvidia. AMD shares jumped following the news, as both companies cast the deal as a pivotal step in the accelerating AI compute race.2
FedEx fights for refund
FedEx sued the U.S. government on Monday, seeking a ‘full refund’ of the tariffs it paid under Trump’s International Emergency Economic Powers Act, which the Supreme Court ruled illegal last week. FedEx is the first major corporation to file a refund claim after the decision, joining earlier cases still pending in the Court of International Trade. The company said no refund process exists yet but moved quickly to protect its rights as regulators and courts sort out next steps.3
Eli Lilly’s latest launch
On Monday, Eli Lilly rolled out a new monthly KwikPen version of its obesity drug Zepbound, allowing patients to take four weekly doses from a single device. The pen, available through LillyDirect starting at $299, is designed to offer a more convenient alternative to weekly single‑dose injectors. The launch comes as Lilly works to sustain Zepbound’s rapid growth in the booming weight‑loss drug market.4
Deficit defies tariffs
The U.S. trade deficit totaled $901.5 billion in 2025, barely moving from the prior year despite President Trump’s aggressive tariff strategy. December’s shortfall rose to $70.3 billion, capping a year in which companies front‑loaded imports and negotiations softened earlier tariff positions. The report, released last Thursday, shows that both exports and imports increased, leaving the overall trade gap essentially unchanged.5
MileagePlus makeover
United Airlines announced last Thursday a major MileagePlus overhaul that boosts rewards and discounts for travelers who hold a United Airlines credit card. Cardholders will earn more miles and enjoy lower redemption rates, while non‑cardholders will face reduced earning and will not earn miles on basic economy fares. The changes, effective April 2, reflect United’s push to prioritize its highest‑spending loyal customers.6
[1] Repko, Melissa. “Lowe’s CEO Says the Housing Market Is Under Pressure, Even as the Retailer’s Sales Jump More Than 10%.” CNBC, 25 February 2026, https://www.cnbc.com/2026/02/25/lowes-low-q4-2025-earnings.html. Accessed 25 February 2026.
[2] Tarasov, Katie. “Meta strikes AI chip deal with AMD days after committing to deploy millions of Nvidia GPUs.” CNBC, 24 February 2026, https://www.cnbc.com/2026/02/24/meta-to-use-6gw-of-amd-gpus-days-after-expanded-nvidia-ai-chip-deal.html. Accessed 24 February 2026.
[3] Mangan, Dan. “FedEx sues for refund of Trump tariffs, days after Supreme Court ruling.” CNBC, 23 February 2026, https://www.cnbc.com/2026/02/23/fedex-trump-trade-tariffs-refunds-supreme-court-lawsuit.html. Accessed 24 February 2026.
[4] Constantino, Annika Kim. “Eli Lilly launches new form of obesity drug Zepbound with a month’s worth of doses in one pen.” CNBC, 23 February 2026, https://www.cnbc.com/2026/02/23/eli-lilly-launches-zepbound-obesity-drug-pen-one-month-doses.html. Accessed 24 February 2026.
[5] Cox, Jeff. “U.S. trade deficit totaled $901 billion in 2025, barely budging despite Trump’s tariffs.” CNBC, 19 February 2026, https://www.cnbc.com/2026/02/19/us-trade-deficit-totaled-901-billion-in-2025-despite-trumps-tariffs.html. Accessed 24 February 2026.
[6] Josephs, Leslie. “United Airlines pares back rewards for non-cardholders in major MileagePlus overhaul.” CNBC, 19 February 2026, https://www.cnbc.com/2026/02/19/united-airlines-frequent-flyer-mileage-plus-program-credit-card.html. Accessed 24 February 2026.
This material is for general information and educational purposes only. Information is based on data gathered from what we believe are reliable sources. It is not guaranteed as to accuracy, does not purport to be complete and is not intended to be used as a primary basis for investment decisions.
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