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    Crocs Shares Lifted on Consumer Outloook

    By Stock Charts | November 13, 2007

    Shares of Crocs, Inc. (CROX) rose 10% in trading today after a JPMorgan analyst called the recent selloff “unwarranted.” Conversations with retailers remain positive with no signs of waning, Samuels said, adding that “revenue per door in the U.S. was up 20 percent year-over-year in third quarter.” The stock saw a huge decline last week after outlook failed to meet analyst expectations. Shares were also boosted after Walmart reported a positive outlook for this upcoming shopping season.

    In addition, the board of directors for Crox announced authorization to repurchase 1 million shares of common stock:

    Share repurchases under this authorization may be made in the open market or in privately negotiated transactions. The timing and actual number of shares repurchased will depend on a variety of factors including price, corporate and regulatory requirements and other market conditions.

    The repurchase authorization does not have an expiration date and does not obligate Crocs to acquire any particular amount of shares of its common stock. The repurchase authorization may be modified, suspended or discontinued at any time.

    Technically, CROX still looks quite bearish, with the next support just below 30:

    crox stock chart

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    Topics: Stock Charts | 1 Comment »

    One Response to “Crocs Shares Lifted on Consumer Outloook”

    1. Crocs Shares Lifted on Consumer Outloook | MetalTinSigns.com Says:
      November 14th, 2007 at 9:42 pm

      [...] Read the rest of this great post here [...]