logo
Plus   Neg
Share
Email

American Eagle Pulling Back Following Recent Uptrend

Shares of American Eagle Outfitters (AEO) have moved sharply lower during trading on Thursday, giving back ground after trending higher in recent weeks. After ending the previous session at a five-year closing high, American Eagle is currently down by 9.6 percent.

The pullback by American Eagle comes even though the apparel retailer reported better than expected fourth quarter results and provided upbeat guidance.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Swiss engineering major ABB Ltd. teamed with Italian utility Evolvere to launch a blockchain pilot project to explore transparent, secure peer-to-peer solar energy transactions, media outlet PV Tech reported. The companies will test the potential of blockchain technology in solar systems. The blockchain technology was developed in partnership with Prosume. Shares of Tesla Inc. are losing more than 5 percent in Monday's trading after Wedbush Securities analyst Daniel Ives slashed his price target on the luxury electric car maker's stock, citing "major concerns" around the trajectory of Tesla's growth prospects. In a note to investors, Ives also said he has concerns over underlying demand for Model 3 cars in the U.S. over the coming quarters. Amazon Inc. is leading a new $575 million investment in British food delivery company Deliveroo, intensifying the e-commerce giant's competition with rival Uber and its Uber Eats service. Deliveroo noted that Amazon is set to be the largest investor in the Series G preferred shared funding round. With the latest funding round, Deliveroo has raised $1.53 billion.
Follow RTT