Market Overview

Macy's Soars After Q3 EPS Beat And Raise

Share:
Related M
Goldman Sachs Picks 3 Buys, 1 Sell In Retail: 'We Expect The Better Growth Outlook To Persist'
This Is How Much You're Worth On The Dark Web
Macy's adds UPS chief to board (Seeking Alpha)

Macy's Inc. (NYSE: M) shares are trading higher by $1.71 (10 percent) at $19.28 in Thursday's session.

The catalyst for the rally is a Q3 EPS beat of 4 cents on lower sales. The company raised its Q4 EPS outlook, but didn't do the same for sales.

See Also: Macy's Up, Kohl's Down Following Q3 Earnings

After a higher open, Macy's had a brief retreat to $17.80 before continuing its move higher. It has continued to make new highs for the session with the current one at $19.36 as of 12:57 p.m. EST. If the rally continues, the next resistance point based on the daily charts comes in at it November 1 high ($19.62).

Posted-In: Technicals Intraday Update Movers Trading Ideas

 

Related Articles (M)

View Comments and Join the Discussion!

Kohl's Claws Back From Morning Lows After Q3 Miss

Macy's And Kohl's Earn Free Pass In Q3, But Need To Gives Consumers Reason To Shop In Q4