American Eagle Surges Despite Weak Guidance (AEO)

Shares of American Eagle Outfitters AEO are surging this morning despite the company missing revenue estimates and the company offering a weaker-than-expected third quarter forecast. For the second quarter, American Eagles earned 13 cents per share, excluding non-recurring items, on revenue of $651.5 million. Analysts had expected the company to post earnings of 13 cents per share on revenue of $654.6 million. Comparable store sales fell 1% for the quarter. The company said it expects third quarter earnings to be between 23 cents and 26 cents per share, lower than the 27 cents analysts had estimated. Shares of American Eagle are higher by 70 cents, or 5.60%, to $13.19.