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Tiffany Stock's Sparkle May Be Fading

Tiffany (TIF) bottomed out in July and has been moving higher ever since. The company reports earnings Tuesday. Can it continue to sparkle?

Tiffany is up 27% off its lows. It seems investors are expecting a decent second half from the jewelry maker. In fact, virtually anything would be better than the first half.

First-quarter fiscal 2016 sales fell 7.5%, and total North American comparable-store sales fell 10%. Earnings fell 14%. The second quarter wasn't much...