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Stock Market & Financial Investment News

News Breaks
April 10, 2014
11:47 EDTBBBY, WSM, PIRBed 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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December 21, 2014
11:37 EDTBBBYBed Bath & Beyond could rise 19%, Barron's says
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December 19, 2014
09:28 EDTPIROn The Fly: Pre-market Movers
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December 18, 2014
18:22 EDTPIROn The Fly: After Hours Movers
UP AFTER EARNINGS: Red Hat (RHT), up 9.3%... Pier 1 Imports (PIR), up 8%... NQ Mobile (NQ), up 9.3%... Cintas (CTAS), up 6.3%. ALSO HIGHER: Aratana Therapeutics (PETX), up 25.9% after candidate for dog osteoarthritis shows positive results... Ally Financial (ALLY), up 5% after announcing that it will exit the Troubled Asset Relief Program. DOWN AFTER EARNINGS: Nike (NKE), down 2.7%. ALSO LOWER: American Apparel (APP), down 2.8% after New York Post reports on takeover bid.
16:52 EDTPIRPier 1 Imports trades higher after results, levels to watch
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16:30 EDTPIRPier 1 Imports up 4% following Q3 results, guidance
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16:09 EDTPIRPier 1 Imports backs FY15 EPS view 95c-$1.05, consensus 98c
Backs FY15 comparable sales growth view of mid- to high-single disits. Backs FY15 gross profit view as 40.5%-41.5% of sales.
16:08 EDTPIRPier 1 Imports reports Q3 EPS 20c, consensus 20c
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15:21 EDTPIRNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Nike (NIKE), consensus 70c; Red Hat (RHT), consensus 40c; Cintas (CTAS), consensus 78c; Pier 1 Imports (PIR), consensus 20c; AAR Corp. (AIR), consensus 37c.
14:39 EDTBBBYBacker of Internet sales tax to get powerful Senate post
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10:41 EDTPIRHigh option volume stocks
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10:01 EDTWSMOn The Fly: Analyst Upgrade Summary
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09:35 EDTWSMKate Spade Saturday, West Elm to team on home collection
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06:31 EDTWSMWilliams-Sonoma upgraded to Conviction Buy from Neutral at Goldman
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December 12, 2014
08:45 EDTPIRPier 1 Imports volatility elevated into Q3 and outlook
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December 11, 2014
12:34 EDTPIR, WSMRestoration Hardware hits 52-week high after beating Q3 estimates
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