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Movado Shares Rise On 1Q Results, Clearer Guidance

Stock quotes in this article: MOV  

NEW YORK (AP) — Shares of watch maker Movado Group Inc. rose Friday as investors took a cue from the first-quarter results and started to feel more comfortable about the rest of the year.

Shares rose 87 cents, or 7.9 percent, to $11.90 in late morning trading.

"With some stabilization of U.S. trends, which led to better-than-expected first-quarter results, management was able to issue guidance with more clarity than prior ballpark guidance to be slightly profitable," JMP Securities analyst Kristine Koerber told investors in a research report. ...

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