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Ross Stores Stock Jumps on Q3 Beat, Holiday Season Challenging

Shares of Ross Stores (ROST) advanced 4.12% to $68.23 early Friday morning after the off-price retailer reported better-than-expected results for the 2016 third quarter. However, the company issued cautious guidance for the holiday season.

"While 3Q top-line, margins, and EPS reflected another quarter of solid performance and came in ahead of consensus, we believe challenging near-term comparisons, a highly promotional holiday season, and wage pressures, coupled with a lofty valuation, prevent a favorable...