Tiffany Co. Rallies Despite Q3 Miss And Lowered Guidance

Tiffany & Co.

shares are trading higher $3 at $79.55 in Tuesday's session. The Street is ignoring its Q3 miss of a nickel and lower sales by $33M. Also, the company significantly lowered FY 2016 guidance. All the bad news is good news for its shareholders. Off a lower open, it found support just under $75.31, reaching $75.14 before turning higher. So far, it has reached $79.90 and is not far from the level. The current high coincides with a pair of highs from November 10 ($80.32) and November 11 ($79.96).

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