NEW YORK (TheStreet) -- Jewelers Blue Nile (NILE), Zale Corporation (ZLC) and Signet Jewelers (SIG) were dazzling, after Tiffany & Co (TIF) posted a stellar third quarter.

By early afternoon, Tiffany shares had rocketed 8.9% to $88.16, while Signet climbed 1.1% to $77.29. Zale shares added 3.8% to $14.82 and Blue Nile tacked on 4.4% to $48.24.

Before the bell Tuesday, the New York-based retailer reported net income of 73 cents a share, 50% more than a year earlier. Sales of $911.5 million were $22 million higher than what analysts surveyed by Thomson Reuters expected. Comparable-store sales grew 7%, with as much as 29% sales growth in the Asia-Pacific region.

Signet, also reported earnings earlier in the day. It earned 42 cents a share, in line with expectations. Revenue of $771.4 million was 7.7% higher than a year earlier, and $810,000 more than analysts expected. Same-store sales were up 3.2%, while e-commerce sales grew 11.7%.

Shine bright like a diamond, indeed.

TheStreet Ratings team rates Tiffany & Co. as a Buy with a ratings score of A-. The team has this to say about their recommendation:

"We rate Tiffany & Co. (TIF) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, expanding profit margins, good cash flow from operations and solid stock price performance. We feel these strengths outweigh the fact that the company has had somewhat disappointing return on equity."

TheStreet Ratings team rates Signet Jewelers Ltd as a Buy with a ratings score of B+. The team has this to say about their recommendation:

"We rate Signet Jewelers Ltd (SIG) a BUY. This is driven by some important positives, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, revenue growth, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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