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.

Does Fossil look too hot to touch after today's jump? The Motley Fool's chief investment officer has selected his No. 1 stock for this year. Find out which stock it is in the special free report "The Motley Fool's Top Stock for 2013." Just click here to access the report and find out the name of this under-the-radar company.

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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