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American Eagle Outfitters AEO reported a drop in its third-quarter profit and issued a weak earnings forecast for the current quarter.
American Eagle now projects Q4 earnings of $0.26 to $0.30 per share, versus analysts' estimates of $0.39 per share.
American Eagle's quarterly profit declined to $24.9 million, or $0.13 per share, versus a year-ago profit of $78.6 million, or $0.39 per share. Its adjusted earnings fell to $0.19 per share from $0.41 per share. Its revenue dropped to $857.3 million from $910.4 million. However, analysts were estimating earnings of $0.19 per share on revenue of $856 million.
Equities Trading UP
AMR Corporation AAMRQ, the parent company of American Airlines, gained 8.11 percent to $11.46 after a judge rejected a bid to block the AMR US Air merger on price claims.
Shares of Finisar FNSR got a boost, gaining 1.28 percent to $22.04 as the stock gradually sold of on Friday's session following the company's upbeat Q2 results and strong Q3 forecast.
Equities Trading DOWN
Shares of Ulta Salon, Cosmetics & Fragrance ULTA were down 21.05 percent to $93.18 after the company reported downbeat third-quarter results and issued a weak fourth-quarter outlook. Piper Jaffray downgraded the stock from Overweight to Neutral and lowered the target price from $129 to $113.
InterOil IOC shares were down as well, falling 36.66 percent to $56.15 after the company announced it would sell its interest in a Papua New Guinea bloc to Total, for between $1.5 billion and $3.6 billion according to InterOil, and $1.2 billion according to Total. The deal appears to have disappointed traders as they smacked the stock down following the announcement.
CommoditiesSilver traded up 0.03 percent Friday to $19.43, while copper rose 1.35 percent to $3.24.
EurozoneEconomics
The U.S. economy added 203,000 jobs in November, while the country's unemployment rate declined to 7.0% from 7.3%. However, economists were projecting a gain of 185,000 jobs in the month.
The preliminary reading of the Reuter's/University of Michigan's consumer sentiment index rose to 82.50 in December, from a final reading of 75.10 in November. However, economists were expecting a reading of 76.00.
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