Time New York: Mon 15 Oct 13:02 pm  |  Save 15% on H&R Block Online


Macy’s (M) Surges: Stock Moves 11% Higher


Macy's, Inc. M was a big mover last session, as the company saw its shares rise nearly 11% on the day. The move came on solid volume too with far more shares changing hands than in a normal session. This stock, trading within a volatile range of $17.53-$21.40 in the past one-month time frame, showed a sharp increase yesterday.

The move came after the company reported robust third-quarter fiscal 2017 earnings, and also reiterated its fiscal 2017 guidance despite sales miss.

The company has seen one negative estimate revisions in the past one month, while its Zacks Consensus Estimate for the current quarter has remained unchanged. So make sure to keep an eye on this stock going forward, to see if this recent move higher can last.

Macy's currently has a Zacks Rank #4 (Sell), while its Earnings ESP is negative.

Macy's Inc Price

Macy's Inc Price | Macy's Inc Quote

A better-ranked stock in the Retail-Wholesale sector is Zumiez Inc. ZUMZ, which currently carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Is M going up? Or down? Predict to see what others think: Up or Down

More Stock News: This Is Bigger than the iPhone!

It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 27 billion devices in just 3 years, creating a $1.7 trillion market.

Zacks has just released a Special Report that spotlights this fast-emerging phenomenon and 6 tickers for taking advantage of it. If you don't buy now, you may kick yourself in 2020.

Click here for the 6 trades >>

Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report

To read this article on Zacks.com click here.
<-- You can share this post with your network,
or give us your opinion and leave a comment.
Be sure to check our RSS feeds for updates.