As the initial retail numbers start pouring in, we wanted to share a bullish name in the consumer space we’ve been tracking. Tiffany & Co. (NYSE:TIF) is at support and scheduled to report earnings Thursday, Nov. 29. Expectations for this shopping season look best for online and specialty retailers versus those that are still stuck with an offline emphasis like J.C.Penney (NYSE:JCP).
Late last quarter, there were a few stocks in the high-end space like TIF that took a hit from some poor performance among unrelated peers. That has kept the stock’s value low and channeling above support. Investors are likely to be inclined to buy the rumor in this case and could push TIF to at least $65 per share before the actual earnings report this week.
John Jagerson and S. Wade Hansen are co-founders of LearningMarkets.com, as well as the co-editors of SlingShot Trader, a trading service designed to help you make options profits by trading the news.