Costco Gets The Beats After Q3 Miss

Costco Wholesale Corporation COST shares are trading lower by $6 at $162.87 in Wednesday's session. The catalyst for the decline is a Q3 miss of $0.08 along with a $40 million miss on revenues. Keep in mind, the issue had a pre-earnings run-up over the last four sessions from its December 2 close ($161.09), to its all-time closing high on Tuesday ($168.87). After a lower open, the issue swooned to $158.22 before embarking on a nice rally. That low coincides with its November 18 low ($157.82).