Movado Group (MOV) Slides on Weak Forecast

Movado Group, Inc MOV shares fell 9.3% to $27.53 after the company the company issued a weak forecast for FY17. Movado reported better-than-expected results for its fourth quarter and raised its quarterly dividend, and also reported a $50-million buyback plan. Share volume was 74,000, compared to an all-day average of 43,000