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April 10, 2014
11:47 EDTBBBY, PIR, WSMBed Bath & Beyond approaches 52-week low after profit forecast disappoints
Shares of home furnishings retailer Bed Bath & Beyond (BBBY) are falling after the company's first quarter profit outlook significantly trailed analysts' consensus estimate. WHAT'S NEW: Last night, Bed Bath & Beyond reported Q4 earnings per share of $1.60 and revenue of $3.2B, compared to expectations of $1.60 and $3.22B, respectively. Q4 same-store sales increased 1.7%. WHAT'S NOTABLE: The company forecast Q1 EPS of 92c-96c, significantly trailing the consensus of $1.04, while Q1 revenue was seen increasing 2%-3.5%, compared to consensus of $2.37B. The company expects its Q1 SSS to increase 1%-2.5%. For FY14, EPS is seen by the company to grow by a mid-single digit percentage, compared to consensus of $5.27. FY14 revenue is forecast to grow 4%, versus consensus of $12.07B. ANALYST REACTION: This morning, Bank of America Merrill Lynch downgraded the stock to Neutral from Buy citing Bed Bath & Beyond's disappointing 2014 guidance. The firm lowered its price target on shares to $72 from $87. Two other firms, Credit Suisse and Argus, both lowered their respective price targets on the shares as well. OTHERS TO WATCH: Other companies in the home furnishings space include Williams-Sonoma (WSM) and Pier 1 Imports (PIR), which reported its own fourth quarter results this morning. PRICE ACTION: In late morning trading, Bed Bath & Beyond tumbled $4.26, or about 6.3%, to $63.65 on more than three times its average daily trading volume. The stock is approaching its 52-week low of $62.12. Including today's slide, the stock is down about 3% over the past twelve months. Pier 1, which reported better than expected Q4 revenue and authorized a new $200M stock repurchase program, was up 10c, or 0.55%, to $18.32.
News For BBBY;PIR;WSM From The Last 14 Days
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September 18, 2014
09:36 EDTPIRActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL YHOO TWTR VVUS RAD PWE WFM TSLA PIR SHLD
09:24 EDTPIRPier 1 Imports downgraded to Hold from Buy at BB&T
Note this is the fourth downgrade of the day.
08:59 EDTPIROn The Fly: Pre-market Movers
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07:35 EDTPIRPier 1 Imports downgraded to Hold from Buy at Argus
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05:25 EDTPIRPier 1 Imports downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded Pier 1 Imports to Equal Weight citing accelerating expenses and slower revenue growth following the company's Q2 earnings report. The firm lowered its price target for shares to $14 from $18. Pier 1 was also downgraded this morning at Wells Fargo.
05:23 EDTPIRPier 1 Imports downgraded to Market Perform from Outperform at Wells Fargo
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September 17, 2014
18:29 EDTPIROn The Fly: After Hours Movers
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17:04 EDTPIRPier 1 Imports falls sharply following results, levels to watch
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17:02 EDTPIRPier 1 Imports expects to exceed $400M in e-commerce sales in 2016
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16:34 EDTPIRPier 1 Imports down 9.4% after reporting Q2 results, guidance
16:10 EDTPIRPier 1 Imports sees online sales over $400M in about a year
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16:08 EDTPIRPier 1 Imports sees FY15 EPS 95c-$1.05, consensus $1.13
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16:07 EDTPIRPier 1 Imports reports Q2 EPS 10c, consensus 14c
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15:18 EDTPIRNotable companies reporting after market close
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10:48 EDTPIRHigh option volume stocks
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09:50 EDTBBBYBed Bath & Beyond 2H guidance appears optimistic, says Cleveland Research
Cleveland Research checks indicate Bed Bath & Beyond Q2 sales trends remain flattish to up 1%, similar to Q1. The firm believes 2H guidance is too optimistic, especially for FY comps of +3%. The analyst remains cautious on shares and expect margin pressures to continue. Shares are Neutral rated.
September 15, 2014
08:12 EDTWSMWilliams-Sonoma poor Q2 optics probably temporary, says SunTrust
After meeting with Williams-Sonoma's management, SunTrust believes that the poor optics included in the company's Q2 results were probably temporary. The firm thinks that the company's market share gains are likely to continue in the near, intermediate and longer terms. It keeps a Buy rating on the shares.
September 12, 2014
11:03 EDTBBBYOptions with increasing implied volatility
Options with increasing implied volatility: ADHD VNET AVNO RAX VALE NLY EWZ BBBY SYY GGP
September 11, 2014
12:05 EDTPIRRestoration Hardware falls as company lowers FY14 revenue view
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September 10, 2014
14:04 EDTPIRPier 1 Imports September volatility elevated into Q2 and outlook
Pier 1 Imports September call option implied volatility is at 48, October is at 34, December is at 31; compared to its 26-week average of 34 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on September 18.
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