Tiffany's Blasted After Issuing Lower Guidance

Tiffany & Co. TIF shares are trading lower by $3.10 at $64.55 in Tuesday's session. The Street is abandoning the issue after the company reported weak holiday sales that will be reflected in its Q4 earnings report on March 18.

Following a lower open, it continued in that direction before it found support at $62.90 and began to rebound. Midday, the issue had a brief spike but found willing sellers just above Friday's close ($67.65), reaching $67.67.

Since making that high, it retreated to $64.35 but has had trouble remaining in the $65 handle.