Winners & Losers: Retailers Rule
Rising oil prices have not stopped consumers from going to the mall.
Retailer Guess is enjoying a 15% surge in their stock price. The clothing company reported better than expected revenue.
Other retail stocks on the rise today include Abercrombie & Fitch up 3.8%, The Gap gaining 3.88%, and Talbots rebounding 4.3%.
But in spite of the gains analysts expect weaker retail sales going into the winter.
Some technology stocks lost ground. Cognizant Technology Solutions dropped almost 20% today. Despite of the decline Cognizant reported their income rose 48%.
Also down in the technology sector is Infosys Technologies Limited closing at $45.45, and Microsoft losing 0.87%, ending at $36.41.
Other losers of the day included Momenta Pharmaceuticals down more than 57% closing at $5.67, and the embattled Citigroup down another 2.28% closing at $35.07 a share.
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