Restoration Hardware RH shares are trading higher by $5.27 (25 percent) at $30.46 in Friday's session. The catalyst for the rally is the company's preliminary Q4 report that revealed an EPS beat of $0.03 along with $7 million beat for sales. The company also announced a $300 million buyback plan.
After a much higher open, it bottomed at $28.60 and then continued its move higher. It has continued to make new highs for the session, with the current one standing at $31.79.
That high is just shy of a pair of highs from January 3 ($31.88) and January 4 ($31.86). The latter is the last time the issue closed over $31.00, when it ended that session at $31.68.
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