NEW YORK (TheStreet) -- Retailers are rallying Monday afternoon after the G-20 pledge to keep economic stimulus in place until a recovery is certain.
The S&P Retail Index is rising 1.6% to 401.51, led up by big movers like RadioShack(RSH Quote), Zale(ZLC Quote), Abercrombie & Fitch(ANF Quote) and Office Depot(ODP Quote). RadioShack is soaring 13.6% to $20.15 after it was upgraded to outperform by Credit Suisse. Last week, the electronics retailer announced it will begin selling Apple's(AAPL Quote) iPhone 3G in select stores this month, and nationwide by 2010. Abercrombie & Fitch was also upgraded by Credit Suisse to outperform from neutral, sending shares climbing 7% to $37.46. Analyst Paul Lejuez said the teen retailer will most likely beat Wall Street's estimates when it reports third-quarter earnings on Friday.- Loading Comments...
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