Finish Line Distances Itself From 7-Year Low After Mixed Q1 Report

Finish Line Inc FINL shares are trading higher by $1.15 (9 percent) at $13.88 in Friday's session.

Investors are breathing a sigh of relief that its Q1 report wasn't a total disaster. Before the open, the company reported inline EPS at 23 cents but came up shy on revenues by $3.1 million. For now, the stock is getting a free pass on its lower FY 2018 guidance.

After a higher open, Finish Line had a brief retreat but found support just over Thursday's close ($12.73) at $12.86 and continued its move higher. So far, the ensuing rally has taken the stock to $14.10, but has fallen back into the upper $13.00 handle. That mark the highest level since it put in a pair of highs on June 15 ($14.27) and June 16 ($14.23).

It should be noted that on Wednesday the stock made a seven-year low at $12.25.