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Foot Locker Up 20% After Q3 Beat

By Insider Scoop
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Courtesy of Benzinga.

Foot Locker, Inc. (NYSE: FL) shares are trading higher by $7.55 (22 percent) at $39.40 in Friday’s session.

The catalyst for the rally is a Q3 EPS beat of 7 cents along with a sales beat of $40 million.

Related Link: These Battle-Scarred Retailers Have More Downside To Come

After a much higher open, Foot Locker’s stock rallied another 40 cents to $41.73 before reversing course. The ensuing decline took the stock to $38.26 and the rebound off that low has been capped at $40.30.

The stock hasn’t closed over $40.00 since Aug. 17, when it ended that session at $47.70. The following day it swooned to $34.38 after reporting a huge Q3 loss on lower sales.

Posted-In: Technicals Intraday Update Movers Trading Ideas

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