Market Overview

Men's Wearhouse Looking Sharp

The shares of Men's Wearhouse (NYSE: MW) are up over 12 percent on the session. The specialty retailer of men's suits reported better than expected third quarter earnings yesterday after the close. Men's Wearhouse's EPS was $0.79 versus the analyst estimates of $0.65 and revenues were $584.60 million versus $570.94 million estimate. In addition, retail segment sales increased 5.9%

Men's Wearhouse also announced fourth quarter guidance. Adjusted diluted loss per share is expected to be $(0.15)-(0.12). For the fiscal year, adjusted diluted earnings per share are expected to be in a range of $2.28-2.31

Following the earnings beat, the stock spiked above its 200-day and 50 day moving averages, which can be seen as a bullish sign. The next resistance is at around $31.60.

Men's Wearhouse is currently trading at 30.56, a gain of $3.37 or 12.39%

Posted-In: Long Ideas Intraday Update Movers Trading Ideas

 

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