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Why Burlington Stores Stock Was Soaring Today

Why Burlington Stores Stock Was Soaring Today

Shares of Burlington Stores (NYSE: BURL) were moving higher today in spite of a disappointing third-quarter earnings report from the off-price retailer. Instead, investors seemed to be encouraged by fourth-quarter guidance that indicated a modest recovery in its performance. A number of retail stocks were up today as well, a sign that investors may be betting that the sector is oversold.