Guess should be used as source of funds ahead of results, says Buckingham Buckingham believes that Guess' Q4 results could be a negative catalyst for the stock. The firm expects the company's Q4 results to be in-line but low quality, and predicts that Guess' FY14 guidance will be below consensus. The firm keeps an Underperform rating on the shares.
Guess falls sharply, levels to watch The shares have spiked lower, dropping 2.7% to $18.30. At that price, next support is at the 52-week low at $17.67. Resistance is at $18.68, the opening price of the day. Piper Jaffray downgraded the shares to Underweight.