Jewelry Stores On The Move - Zale Corporation
Just last Week, Soleil Securities research analysts downgraded Zale Corp (NYSE: ZLC) from a “hold” rating to a “sell” rating in a research note issued to investors on Monday. However today the jewelry stores operator saw its stock skyrocketted more than 30% after a strong 2010 Holiday season in which revenue for the two-month period totaled $533.1 million, up 8% from $493.7 million last year.
Since reaching 5 year high of $30 per share in 2008, shares of Zale Corp have been beaten down badly following the global financial crisis, down to as low as $1 per share the following year. Its annual revenue is still on the decline, from $1.8 billion in 2009 to $1.6 billion in 2010 for period ending July 31. However with yesterday's report for November and December sales, we should see a very positive result for the quarter ending Januarly 31. Many investors probably see the change in the direction of the stock and rushed in with buy orders. The technical chart also indicates a positive trend with 50 day moving average went on top over 200 day moving average recently, forming a bullish signal called Golden Cross. Could this be finally the time for the stock to go back to its glory days of $30 per share?
Since reaching 5 year high of $30 per share in 2008, shares of Zale Corp have been beaten down badly following the global financial crisis, down to as low as $1 per share the following year. Its annual revenue is still on the decline, from $1.8 billion in 2009 to $1.6 billion in 2010 for period ending July 31. However with yesterday's report for November and December sales, we should see a very positive result for the quarter ending Januarly 31. Many investors probably see the change in the direction of the stock and rushed in with buy orders. The technical chart also indicates a positive trend with 50 day moving average went on top over 200 day moving average recently, forming a bullish signal called Golden Cross. Could this be finally the time for the stock to go back to its glory days of $30 per share?
posted by Stock Geek at
9:26 AM
1 Comments:
I like sports very much,It's very interesting,you are a humorous man from your blog.I like playing ,travel ,and shopping . the women like to go to jewelry stores and like to buy Jewellery ,the more and the more people like good jewelry ,the young girl or boy like fine Jewelry .In the past time ,Jewelry is wealth ,but now ,every one can have own Jewelry .It's became a trend in life!
Post a Comment
Subscribe to Post Comments [Atom]
<< Home