AEO - Hot Stocks: AEO rises on earnings; MDT falls; MU WDC upgrades; HIBB BGFV drop
On a day when many high-profile retailers lost ground on margin concerns, sporting goods outlets were particularly hard hit in Tuesday's midday action. Hibbett (NASDAQ:HIBB) and Big 5 Sporting Goods (NASDAQ:BGFV) both recorded notable declines. Meanwhile, American Eagle Outfitters (NYSE:AEO) bucked the overall trend in the retailing sector. Shares of the clothing retailer climbed in intraday trading after it reported better-than-expected results, including its highest margins in 14 years. Medtronic (NYSE:MDT) also moved on earnings news. Shares dropped following a top-line miss and a warning of curtailed growth for the full year. In other news, Micron (NASDAQ:MU) and Western Digital (NASDAQ:WDC) posted notable gains following a bullish analyst comment. Gainers American Eagle Outfitters (AEO) reported Q3 earnings that topped expectations, boosted by 23% revenue growth. Gross margins also rose from last year, reaching their highest level since 2007. Bolstered by the financial figures, AEO advanced 4% in midday action. Micron
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Hot Stocks: AEO rises on earnings; MDT falls; MU, WDC upgrades; HIBB, BGFV drop