Earnings Help Fossil Stock Shake Off Yesterday's Downgrade
It's been quite a week for Fossil investors, and it's only Tuesday! Shares jumped more than 18% today after the company reported earnings this morning.
Second-quarter earnings beat analysts' expectations on both EPS and revenue. Third-quarter guidance was less than expected, though full-year guidance matched the consensus.
Fossil's earnings rally was welcomed by investors, who yesterday watched the stock fall 6% after a Barclays analyst downgraded the stock. Motley Fool analyst David Hanson explains the downgrade and the earnings report, and notes that including today's rally, the stock is up 80% in the past year.
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The article Earnings Help Fossil Stock Shake Off Yesterday's Downgrade originally appeared on Fool.com.
David Hanson has no position in any stocks mentioned. Erin Kennedy has no position in any stocks mentioned. The Motley Fool recommends Fossil. The Motley Fool owns shares of Fossil. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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