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Byline: IBD STAFF
The Dow finished a dull session up 0.2% Friday, but ended its string of three straight up weeks. The S&P 500 closed off less than 1 point. Volume shrank on the NYSE.
99 Cents Only Stores rose 1.44 to a new closing high of 38.50 on double average volume. The stock is featured in today's NYSE Chart Watch on Page B6.
Home Depot raced up 2.63 to 46.65 on its heaviest trade in 10 weeks.
The No. 1 home improvement retailer said it expects earnings to grow 18% to 20% annually over the next 12 quarters. It also sees revenue growing 15% to 18% annually over the same period. CEO Robert Nardelli also affirmed Wall Street's earnings forecasts for the fourth quarter of fiscal 2001.
Home Depot rival Lowe's Cos. spurted ahead 1.79 to a new high of 45.31 on strong trade. The stock is up 13% since breaking out Nov. 13.
Home Depot's news also appeared to benefit home builders. Lennar gained 1.20 to 37.20 on more than twice its 50-day average volume. KB Home moved up 1.82 to 33.62 and Beazer Homes USA 3.40 to 67, both on above-average trade.