Why Burlington Stores Stock Was Soaring Today
Shares of Burlington Stores (NYSE: BURL) were moving higher today in spite of a disappointing third-quarter earnings report from the off-price retailer.
Instead, investors seemed to be encouraged by fourth-quarter guidance that indicated a modest recovery in its performance. A number of retail stocks were up today as well, a sign that investors may be betting that the sector is oversold.
As of 10:37 a.m. ET, shares of Burlington were up 17.9%.
Source Fool.com
