Nordstrom Crushed After Q3 Miss, Lowered Guidance

Nordstrom, Inc. JWN shares are trading lower by $11 at $52.47 in Friday's session. The catalyst for the decline is a Q3 miss for EPS of $0.25 on lower revenues and lowered guidance for Q4.

After reaching $49.75 in pre-market trading, the issue found support at $50.43 off the open and has rallied as high as $54.34 before falling back into the $52 handle. The current low coincides with lows made in that area back in February 2014 and in August through October in 2013.

Joel Elconin is the co-host of Benzinga's #PreMarket Prep, a daily trading idea radio show.

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