Costco Makes New All-Time High After Q3 Beat

Costco Wholesale Corporation COST shares are trading higher by $3.66 (2 percent) at $178.39 in Friday's session.

The catalyst for the rally is a Q3 adjusted EPS beat of nine cents. Year-over-year margins improved by 16 basis points and SG&A expenses by 20 basis points.

After a higher open, above its former all-time high of $175.92, Costco immediately peaked at $180.34 and began to move lower. The ensuing decline took the stock to $177.52, but it has rebounded back into the mid-$178.00 handle.