Skechers Spikes 20% After Mixed Q4, Guidance

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Skechers USA Inc SKX shares are trading higher by $4.90 (21 percent) at $28.188 in Friday's session. The Street is emphasizing all the positives in its Q4 report that missed by a nickel for EPS, but beat on sales by $20 million.

Similarly, the company sees flat Q1 sales, but EPS to come in below estimates of $0.63 in the $0.50-$0.55 range.

Its much higher opening tick of $26.30 has turned out to be only $0.04 from the low for the session at $26.26. The ensuing rally took the issue all the way to $28.44 and isn't far off that level. That marks the highest level for the issue since traded at $27.41 on December 7.

Posted In: TechnicalsIntraday UpdateMoversTrading Ideas
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