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Coach Surges Off Mixed Q3 Report

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Coach Inc (NYSE: COH) shares are trading higher by $3.76 (10 percent) at $42.50 in Tuesday's session.

Before the open, the company reported a mixed Q3 report: EPS beat of $0.02 with a $52 million sales miss. The company maintained FY 2017 sales guidance.

After a much higher open, Coach's stock had a brief $0.33 retreat to $40.88 before continuing its move higher. So far, the ensuing rally has taken it to $42.67 as of 10:19 a.m. and isn't far off that high. That marks the highest level for the issue since it peaked on August 2 at $43.40.

Today's price action is taking place on much heaver than average volume. With just under six hours remaining, 5.2 million shares have traded compared to its 20-day average volume of 3.1 million.

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