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Q2 Earnings Rundown: KORS, RL, CVS & More

Tuesday, August 8th, 2017

Dow futures are down in the pre-market this morning roughly 20 points after hitting a new, record high for 10 straight days as of Monday's close. The S&P 500 also hit a new record high yesterday, and is down marginally in today's pre-market. Not that Q2 earnings season is creating a drag; most earnings results coming out this morning have surprised to the upside:

Michael Kors KORS far surpassed the Zacks consensus estimate this morning, putting up 80 cents per share as opposed to the 62 cents expected. Revenues also solidly beat: $952.4 million easily outpaced the $917.9 million we were anticipating. These results, while impressive on the headline, still represent a downward trajectory year over year - -11% on earnings and -3.6% on sales. Nevertheless, KORS shares are seeing a 15.5% upswing in pre-market trading today.

CVS Health CVS posted a 2-cents beat to $1.33 per share in its Q2...


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