Express reported impressive quarterlies today. The retailer easily beat estimates on both fronts, raised its 2015 outlook and lifted guidance for the current quarter. Its same-store sales also trumped estimates. The better than expected numbers came as the company scaled back on promotions. Shares surged nearly ten percent to $20.25.
Abercrombie & Fitch
Also a strong day for Abercrombie & Fitch. That chain posted a surprise adjusted quarterly profit as its performance was helped by strong results at its Hollister brand. Shares rose 9.5 percent to $18.91.
Rounding out today’s reports from retailers is Chico’s, which also popped on better-than-expected results. The clothing company said it would sell its Boston Proper direct-to-consumer business and close its existing stores. The stock was more than 6.5 percent higher to $14.75.
Monsanto & Syngenta
Monsanto dropped its nearly $50 billion bid for Syngenta. The Swiss company recently rejected a sweetened offer from Monsanto, so now Monsanto says it will focus on its core business and resume its share buyback program. Monsanto rose 8.5 percent to $97.08. Syngenta tumbled 13.5 percent to $67.51.