SHLD, BBY, ANF Stocks In the News Today

Sears Holdings, Best Buy, and Abercrombie & Fitch are among the retailers enjoying earnings wins this morning

Josh Selway
May 25, 2017 at 10:07 AM
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U.S. stocks are gaining for a sixth straight day, even as oil prices fall following the OPEC decision. Among specific stocks on the move are retailers Sears Holdings Corp (NASDAQ:SHLD)Best Buy Co Inc (NYSE:BBY), and Abercrombie & Fitch Co. (NYSE:ANF), all fresh out of the earnings confessional. Here's a quick look at what's moving shares of SHLD, BBY, and ANF. 

SHLD Stock Soars After First Profit in Years

Sears shares are up 19.5% at $8.93, after the retailer posted its first quarterly profit in almost two years. This is still just a drop in the bucket when looking at the stock's long-term chart, with SHLD sporting a 52-week high of $18.18. Sears short sellers will be watching this move closely, since it would take roughly two weeks for these bears to cover their positions, based on average daily volumes. 

BBY Stock Flirts With Record Highs After Earnings

Best Buy stock has skyrocketed 13.8% to $57.40, and earlier touched an 11-year high of $57.95, after the electronics retailer reported a surprise increase in first-quarter comparable store sales. The company's per-share earnings and total sales also beat expectations. This puts the shares within striking distance of their record high of $57.98 from April 2006, with BBY stock now up roughly 80% over the past year. Best Buy shorts continued to get squeezed, too. Despite the stock's impressive run up the charts, 35.6 million shares are controlled by short sellers -- or 10.4 times BBY's average daily trading volume. 

Earnings, Cerberus Buyout Reports Lift ANF Stock

Rounding out the retail trifecta, Abercrombie stock is up 8.5% at $14, after the retailer reported a slimmer-than-expected drop in first-quarter comparable store sales. Elsewhere, the Wall Street Journal last night reported a private equity firm Cerberus could buy the teen retailer in less than a month. Despite its long-term downtrend, ANF shares are actually up 16.7% year-to-date. Still, short sellers can't be pleased with this positive news. Even though short interest fell by 10.6% in the last two reporting periods, bears are holding more than one-quarter of the stock's float. 

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