Macy's Stock Pushes Higher Despite Mixed Earnings Reaction

Core Viewpoint - Macy's Inc has shown resilience in its stock performance despite initial concerns over its holiday Q4 outlook, with adjusted earnings and revenue exceeding expectations [1] Financial Performance - The retailer reported adjusted third-quarter earnings of $0.09 per share on revenue of $4.71 million, both figures surprising to the upside [1] - Year-to-date, Macy's stock is up 33%, reaching a multi-year high of $23.14 recently [2] Market Sentiment - A bullish flag pattern is forming on the charts due to recent consolidation around the $23 mark [2] - Short interest has decreased by 19% in the latest reporting period, with 19.44 million shares sold short, representing 7.3% of the stock's available float [3] - The sentiment remains bearish, with nine out of twelve covering brokerages rating the stock as "hold" or worse, indicating potential for future upgrades [3] Options Activity - Options trading has seen increased activity, with 12,000 calls and 10,000 puts traded, which is four times the average intraday volume [4] - The December 20 put option is the most popular, with new positions being opened [4]