Michael Kors Catapults After Q2 Beat And Raise

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Michael Kors Holdings Ltd KORS shares are trading higher by $6.38 (14 percent) at $54.00 in Monday's session.

The catalyst for the rally is a big Q3 EPS beat of 50 cents along with an $11 million beat for sales. The company also boosted FY sales and EPS.

After a much higher open, Michael Kors had a brief retreat to $51.74 before continuing its move higher. The follow-through rally took the stock to $55.01, but pulled back to the $54.00 area. That level is just shy of a pair of highs from April 27, 2016 ($55.37) and from April 28, 2016 ($55.23).

Posted In: EarningsNewsTechnicalsIntraday UpdateMoversTrading Ideas
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