Market Overview

Express Up 20% After Inline Q2 Report

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Express, Inc. (NYSE: EXPR) shares are trading higher by $1.31, or 24 percent, at $6.80 in Wednesday's session.

Before the open, the company reported an inline Q2 EPS report along with a sales beat of $4.4 million. The Street is also relieved its adjustment to Q3 EPS will not impact its FY 2017 guidance.

After a much higher open, Express bottomed at $6.13 early in the session and continued its move higher. So far, the ensuing rally has taken the stock to $6.84 and is not far off that intraday high. That level comes in around the series of four consecutive highs it made from June 28 to July 5 at $6.83 to $6.90.

It hasn't traded in the $7.00 handle since June 13, when it peaked at $7.07, and the last time it closed at $7.00 or above was the day prior, when it ended that session at $7.00 even.

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