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The giant upward swing in shares of Fossil (FOSL +32.1%) is a result of a bout of short covering...

The giant upward swing in shares of Fossil (FOSL +32.1%) is a result of a bout of short covering after the firm's Q2 report beat consensus estimates, according to analysts. The retailer overcame Europe sluggishness to kick up 23% more in watch sales than a year ago and strengthened its direct-to-consumer business. With short interest on FOSL at 4.061M shares, the numbers were good enough to catch at least a few traders napping.
Comments (1)
  • gensearch2
    , contributor
    Comments (1464) | Send Message
     
    I'd take profits. Guiding lower for the next quarter and FY12. It's bound to pull back.
    7 Aug 2012, 02:51 PM Reply Like
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