Men's Wearhouse Soars on Surprise Gain

The market likes the way Men's Wearhouse(MW Quote) looks. The company nearly halved its first-quarter profit, but investors gave the company a pat on the back anyway for actually posting a profit.

Shares of the retailer soared 16% to $20.70 Tuesday afternoon, a day after the company said profit fell to $5.3 million or 10 cents a share, from $9.9 million, or 19 cents, last year. Analysts had forecast a loss of a penny.

But it was through cost-cutting initiatives, not sales, that the company was able to attain a profit. ...