Nordstrom (JWN.US) stock surged over 17% after the luxury retailer surprisingly reported profit in the third quarter. Nordstrom earned 34 cents per share, while analysts' expected 6 cents per share loss. Revenue failed to beat market expectations, due to lower demand for formal wear. The fashion giant attributed the strong results to a 37% surge in online sales.
Nordstrom (JWN.US) stock has been trading in an upward move recently and today's quarterly report became a catalyst responsible for further increases. Stock broke above the long term downward trend line and is trading at the highest level since March. If the current sentiment prevails then next resistance at $32.35 may come into play. Source: xStation5
Start investing today or test a free demo
Open account Try demo Download mobile app Download mobile appThis content has been created by XTB S.A. This service is provided by XTB S.A., with its registered office in Warsaw, at Prosta 67, 00-838 Warsaw, Poland, entered in the register of entrepreneurs of the National Court Register (Krajowy Rejestr Sądowy) conducted by District Court for the Capital City of Warsaw, XII Commercial Division of the National Court Register under KRS number 0000217580, REGON number 015803782 and Tax Identification Number (NIP) 527-24-43-955, with the fully paid up share capital in the amount of PLN 5.869.181,75. XTB S.A. conducts brokerage activities on the basis of the license granted by Polish Securities and Exchange Commission on 8th November 2005 No. DDM-M-4021-57-1/2005 and is supervised by Polish Supervision Authority.
