This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Oxford Industries Jumps After Improved Outlook

SAN FRANCISCO (AP) ¿ Shares of Oxford Industries Inc., an owner and licenser of clothing brands, jumped Thursday after the company issued a 2009 profit outlook that topped Wall Street expectations.

Shares rose $3.36, or 16 percent, to $24.43 in early afternoon trading. Oxford's brands include Tommy Bahama, Ben Sherman, Oxford Golf and others.

The improved profit forecast was issued with third-quarter results that showed adjusted profit of 32 cents per share, which excluded an accounting charge, easily beating an 18-cent-per-share prediction of analysts polled by Thomson Reuters.

Morgan Joseph & Co. analyst Jeffrey Blaeser maintained a "Hold" rating on the stock but said he was encouraged by the momentum that is building.

"Oxford has effectively navigated a challenging economic environment and mid-teens year-over-year sales declines through effective cost management," Blaeser told investors in a research report.

On Wednesday, the Atlanta-based company raised its 2009 profit guidance to a range of $1.20 to $1.25 per share, up from an earlier estimate of 90 cents to $1.05. Analyst expect $1.03 per share in profit, on average.

Copyright 2009 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG
OXM $77.93 6.70%
AAPL $127.60 2.28%
FB $83.09 2.87%
GOOG $535.38 2.16%
TSLA $205.27 -0.74%

Markets

DOW 18,034.93 +208.63 1.17%
S&P 500 2,100.40 +19.22 0.92%
NASDAQ 4,994.6020 +62.7870 1.27%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs