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Abercrombie same-store sales blow past estimates, stock soars 20%

“Excluding one-time items, the company, which earned 30 cents per share, beating estimates of 22 cents per share” writes Gayathree Ganesan for businessinsider.com. (Reuters) – Abercrombie & Fitch Co’s topped estimates with third-quarter same-store sales on Friday and forecast robust sales for the holiday quarter as its California-themed surfwear brand Hollister helped revive the previously struggling retailer.Shares of the company, which also beat its third-quarter headline sales and profit estimates, jumped 19.5 percent to $15 in premarket trading on Friday. The company forecast percentage growth of fourth-quarter comparable sales in…

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Best Buy warns of a disappointing holiday season

“BTIG analysts wrote in a pre-earnings note as much as 8 percent of Best Buy’s store base could have been impacted by hurricanes” writes Uday Sampath Kumar for businessinsider.com. Its forecast for adjusted earnings for the fourth quarter was $1.89 to $1.99 per share, well short of analysts’ consensus expectation of $2.03 per share. Source: businessinsider.com Share This:

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Advance Auto Parts stock jumps as Wall Street zeroes in on better margins, guidance

“AZO, +2.08% Advance Auto Parts earlier Tuesday reported adjusted third-quarter earnings of $1.43 a share on sales of $2.18 billion” writes Claudia Assis for marketwatch.com. Shares of Advance Auto Parts Inc. skyrocketed 25% Tuesday after quarterly profit came in well above expectations and the company kept its full-year guidance intact, offsetting a slight sales miss. Source: marketwatch.com Share This:

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Tencent earnings: What to expect

“Last week, Tencent said it would be increasing ads on its Tencent News and Tencent Video platforms” writes Alyssa Abkowitz for marketwatch.com. EARNINGS FORECAST: Analysts polled by S&P Global Market Intelligence expect Tencent to report earnings of 15.7 billion yuan ($2.36 billion), a 48% increase over the 10.6 billion yuan earned during the same period last year.Tencent has introduced advertising to its platforms gradually to avoid irritating users with a sudden barrage, but analysts expect ads to generate more earnings in the future.Chinese gaming and social-media giant Tencent Holdings Ltd….

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Redfin shares slide as housing headwinds make profit story more daunting

“Shares of discount real estate brokerage Redfin RDFN, +6.91% tumbled nearly 9% Friday as the company reported solid growth, but reaffirmed strong headwinds in the housing market” writes Andrea Riquier for marketwatch.com. The company reported its market share had increased by 14 basis points to 0.71%, an acceleration in share growth, while web site traffic was up 38%.The company’s GAAP net loss per diluted share was 50 cents, compared with a net income per diluted share of 3 cents a share in the third quarter of 2016. Source: marketwatch.com Share This:

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Kohl’s upgraded to outperform at Baird, as company looks well-positioned heading into the holidays

“KSS, +0.93% shares were upgraded to outperform by analysts at Baird on Friday, due to the company’s off-mall footprint, improving product portfolio and strong loyalty program in the face of Amazon.com Inc.’s AMZN, -0.33% looming threat to the retail industry” writes Trey Williams for marketwatch.com. “Looking ahead, we believe a more pragmatic growth outlook from management, aggressive actions on the cost front, and momentum with traffic and omni-channel initiatives result in better risk/reward for shares,” Altschwager wrote in a note to analysts. Source: marketwatch.com Share This:

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Markets News Oil 

Oil markets stable as markets tighten, but analysts expect volatility ahead

“As such, we see oil prices remaining well supported in the short-term,” ANZ said” reports foxbusiness.com. The strong demand is visible in Southeast Asia, where the number of tankers holding oil in storage around Singapore and Malaysia has halved since June.Oil markets were slightly down but stable on Friday, supported by ongoing supply cuts and strong demand which have resulted in a tightening market, although the prospect of rising U.S. output capped prices. Source: foxbusiness.com Share This:

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Surprise: Companies are making bigger profits than expected

“Just ahead of earnings season, analysts were penciling in only 3.2 percent growth in earnings per share for companies in the S&P 500” reports foxbusiness.com. Still, this earnings season also includes some signs the eight-plus-year rally is nearer the finish than the start.Analysts are notorious for underestimating corporate profits, so it’s not unusual for companies to turn in better results than expected.They’re forecasting earnings growth for S&P 500 companies to accelerate to 10 percent in the current quarter and remain there in early 2018, according to FactSet.It’s been a high-quality…

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Wall Street can’t catch up to this surging tech stock

“It’s the best performing stock in the last year that Wall Street just can’t catch up to” writes unknown author for cnbc.com. Wall street analysts, however, “are more putting some kind of industry multiple maybe at the high end of the industry, but still an industry multiple on this stock,” Binger said.”Investors see this as a concept or a theme stock, whereas Wall Street analysts see it as part of the semiconductor industry,” he said Tuesday on CNBC’s “Trading Nation.”. Shares of Nvidia are up 194 percent over the last…

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Salesforce shares rise to record after $20 billion sales forecast

“Salesforce shares are up more than 53% on the year, compared with a 16% rise for the S&P 500 index SPX, +0.14% and 26% gain for the Nasdaq Composite Index COMP, +0.32% “ writes Wallace Witkowski for marketwatch.com. For fiscal year 2018, which for Salesforce ends in January, analysts forecast earnings of $1.32 a share on revenue of $10.4 billion. Source: marketwatch.com Share This:

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