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Macy's Inc.
M beat on earnings, 61 cents versus expectations of 50 cents a share, and missed on revenues, $6.195 billion versus consensus of $6.34 billion. The company also lowered their guidance, now expected to be in the range of $4.25 to $4.35, compared with prior guidance in the range of $4.40 to $4.50.
Comparable sales were down 0.7 percent in the third quarter of 2014 versus 2013. The company repurchased approximately 9.0 million shares of stock in the third quarter of 2014, providing a boost to EPS.
Shares of M were trading lower bt 7 percent immediately following the earnings release, but have since turned highe rto tarde up nearly 2 percent in a volatile pre-market session.
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