Clothing chain Express (EXPR) is up 10% on its earnings report which came out this morning. Numbers were pretty much in line with estimates: 20-cents a share on $486.2-million dollars in sales. But both profits and revenue were up 7% from a year ago. Express operates more than 600 stores. It says same-store sales were up 6%, and is now increasing its outlook. Even before this morning, Express has had a spectacular year, with shares rising 36%. However the past month has been brutal, with a 13% plunge.
Another retailer, Wet Seal (WTSL), has been up 9% since reporting earnings after yesterday's closing bell. The chain made just a penny a share, in line with estimates. But it had lost 14-cents a share a year ago. As for revenue, it was a slight miss, but rose nearly 4%. The company operates stores under both the "Wet Seal" and "Arden B" names. Moving forward, it predicts same-store sales will rise as a result of a newly installed CEO, cut jobs, and the closing of weaker stores. The climb we're seeing now follows a 13% fall in the stock over the past three months. Still, shares are up 42% over the past year.
Avago Technologies (AVGO) has been up 7.7% since yesterday's close. Avago chips are used in Apple products, so with the rumored launch of a new iPhone, the company is predicting sales growth of 12 to 15% in the quarter ahead. The guidance came yesterday, along with earnings for the past quarter. They showed the company making 74-cents a share excluding items when consensus was for 64-cents. Revenue came in at $644-million, also beating expectations. Prior to this morning shares of Avago were up a scant three-quarters of a percent over the last year.
Facebook (FB) is trading fractionally higher. The stock fell more than 4%, dropping back below the $40-dollar, after spending about two days above that perch. Facebook's dip follows word that CFO David Ebersman is selling off shares. The revelation comes just a day after we learned COO Sheryl Sandberg is also unloading much of her stock. Facebook was up 42% year-to-date as of yesterday's close, mostly on its most recent earnings report.
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