Market Overview

Macy's Soars After Q3 EPS Beat And Raise

Related M
Benzinga's Top Upgrades, Downgrades For June 6, 2018
The Market In 5 Minutes: Social Security Costs, Facebook Data Sharing, Tesla Meeting And More
A High-Throughput Screen For Cancer Stocks That Have Few (Or No) Fundamentals (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!