Costco Sharply Lower After Q4 Miss

Costco Wholesale Corporation COST shares are trading lower by $7.30 (4 percent) at $169.68 in Friday's session.

The catalyst for the decline is a Q4 EPS miss of $0.07 along with a $73 million shortfall in revenues. Q4 comps were up 3 percent. The company announced a $5 increase in annual membership for US and Canadian Goldstar cardholders.

See Also: Fuel Segment, Not Pricing, Cost Costco In Q2

Aftrer a lower open, Costco's stock found intra-day support at $170.40 and rebounded to $171.89. That low comes in between its February 10 low ($170.27) and its February 11 low ($170.78).

Since making that intra-day high, it has drifted back towards the lows for the session, but has yet to make a new one.