NEW YORK (
) -- Retailers are rallying following optimistic earnings reports from two behemoth players.
The S&P Retail Index is advancing 1.8% to 469.20, led up by
that garnered multiple analyst upgrades. While the company actually missed its earnings forecast, it hiked up its outlook for subscriber growth in the fourth quarter.
Time To Focus On Discount Retailers
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Netflix stock is surging 11.5% to $170.74, and hit an all-time high of $174.40 earlier this morning.
eBay is also receiving a boost following its better-than-expected third-quarter report. The majority of eBay's growth was leveraged by its PayPal business. The company also issued fourth-quarter guidance ahead of Wall Street's forecast.
Shares of eBay are soaring 9% to $27.96.
is spiking 6% to $10.73, after Italian businessman Diego Della Valle became the largest shareholder in the high-end retailer. Della Valle upped his stake to just over 19%, holding 22.65 million shares.
He now surpasses Mexican billionaire Carlos Slim, who previously held the largest stake in Saks.
stock is rising, as takeover chatter resurfaces. Janney Capital Markets upgraded the stock to buy, saying a buyout is a "very real possibility."
The firm suspects that Leonard Green & Partners, which holds a 9.5% stake in BJ's, is eyeing the company. "The recent pullback -- the result of press commentary that Loenard Green has cooled its interest, in our opinion, provides an opportunity to revisit the LBO scenario," Janney analyst David Strasser, wrote in a note.
Shares of BJ's are up 2.9% to $42.46, in afternoon trading.
is one of the only losers on Thursday, plunging 14.4% to $44.41, after cutting its third-quarter outlook. The children's apparel retailer now predicts earnings in the range of $1.10 to $1.13 a share, from prior guidance of $1.38 to $1.43 a share. Children's Place attributed the lower guidance to weak fall sales.
is also down 4.2% to $25.41, while rival
Abercrombie & Fitch
is slipping 1% to $42.53.
--Written by Jeanine Poggi in New York.
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