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June 26, 2014
11:20 EDTRH, BBBY, PIR, KIRK, WSMBed Bath & Beyond sinks after results, outlook miss estimates
Shares of home furnishings retailer Bed Bath & Beyond (BBBY) hit a fresh 52-week low after the company's first quarter results and second quarter profit outlook missed analysts' consensus estimates. WHAT'S NEW: Last night, Bed Bath & Beyond reported Q1 EPS of 93c and revenue of $2.66B, trailing analysts' consensus estimates of 94c and $2.69B, respectively. Q1 comparable sales grew 0.4% versus 3.4% last year. WHAT'S NOTABLE: The company modeled Q2 EPS of $1.08-$1.16, versus consensus of $1.20, while Q2 revenue was seen growing 2%-4%, compared to consensus of $2.92B. Q2 same store sales are seen growing 1%-3%. For fiscal 2014, EPS is seen increasing by a mid-single digit percentage and revenue is expected to grow 4%. FY14 SSS is expected to grow 3%. On the company's earnings conference call, management said it was "cautiously optimistic about the balance of the fiscal year." ANALYST REACTION: This morning, JP Morgan lowered its price target on the shares to $65 from $75 after the company's Q1 comparable sales and gross margin missed expectations. The firm kept a Neutral rating on the stock. Morgan Stanley said Bed Bath & Beyond remains unattractive given margin pressures and slippage as it executes its omni-channel strategy. The firm lowered its price target to $58 from $63 and reiterated its Underweight rating. PRICE ACTION: In late morning trading, Bed Bath & Beyond fell $5.61, or 9.2%, to $55.50 on nearly four times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $54.95. Including today's pull back, the stock is down approximately 20% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Williams Sonoma (WSM), Pier 1 Imports (PIR), Restoration Hardware (RH), and Kirkland's (KIRK).
News For BBBY;WSM;PIR;RH;KIRK From The Last 14 Days
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September 25, 2015
08:58 EDTPIROn The Fly: Pre-market Movers
UP AFTER EARNINGS: Nike (NKE), up 8% after last night's better than expected earnings report and futures orders prompted numerous price target hikes at Street research firms. Among them, Deutsche Bank raised it price target on Nike shares to $140 and UBS bumped its target up to $137... Jabil Circuit (JBL), up 9%... BlackBerry (BBRY), up 1%. ALSO HIGHER: Bellerophon Therapeutics (BLPH), up 67% after announcing data from an interim analysis of the company's Phase 2 long-term extension study of INOpulse for the treatment of Pulmonary Arterial Hypertension... Marvell (MRVL), up 5% after announcing a global headcount reduction, plans to downsize its mobile platform business... PayPal (PYPL), up 3% after being initiated with a Buy rating at Canaccord. DOWN AFTER EARNINGS: Pier 1 Imports (PIR), down 15% after Q2 results, FY16 guidance cut... Finish Line (FINL), down 5.5%. ALSO LOWER: Internap (INAP), down 17% after cutting its revenue forecast and having its shares downgraded at Oppenheimer.
08:49 EDTBBBYBed Bath & Beyond shares attractive, says SunTrust
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06:35 EDTBBBYBed Bath & Beyond upgraded to Market Perform at Telsey Advisory
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September 24, 2015
19:14 EDTBBBY, PIROn The Fly: After Hours Movers
HIGHER AFTER EARNINGS: Jabil Circuit (JBL), up 9.6%... Nike (NKE), up 8%. ALSO HIGHER: Bellerophon Therapeutics (BLPH), up 92% after announcing "positive" data from its interim Phase 2 study of INOpulse... Reynolds American (RAI), up 1% after Bloomberg reported the company may sell $5B in assets to Japan Tobacco... Marvell (MRVL), up 5.15% after announcing a 17% global headcount reduction. LOWER AFTER EARNINGS: Pier 1 Imports (PIR), down 7.5%... Bed Bath & Beyond (BBBY), down 1%. ALSO LOWER: Internap (INAP), down 15.1% after cutting its FY15 revenue forecast... Emerge Energy Services (EMES), down 3.25% after withdrawing its distribution guidance due to "difficult market conditions."
16:23 EDTBBBYBed Bath & Beyond falls to fresh 52-week low after results
In the after hours session the shares are currently down 4% to $56.95. At that price next support is at $56.18 and then at $54.96. Resistance is at $58.28.
16:21 EDTBBBYBed Bath & Beyond announces new $2.5B share repurchase program
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16:19 EDTBBBYBed Bath & Beyond sees FY15 EPS flat to up a mid-single digit, consensus $5.22
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16:18 EDTBBBYBed Bath & Beyond sees Q3 EPS $1.14-$1.21, consensus $1.19
Comparable sales are modeled to increase between 1.0% and 3.0% for the third and fourth quarters of fiscal 2015.
16:17 EDTBBBYBed Bath & Beyond reports Q2 EPS $1.21, consensus $1.21
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16:11 EDTPIRPier 1 Imports down 11% after Q2 results, FY16 guidance lowered
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16:10 EDTPIRPier 1 Imports sees Q3 EPS 10c-14c, consensus 23c
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16:09 EDTPIRPier 1 Imports cuts FY16 EPS view to 56c-64c from 83c-87c, consensus 83c
Sees FY16: Low single-digit Company comparable sales growth, which includes e-Commerce; EBITDA margins of approximately 7.5% to 8%; Capital expenditures of approximately $60M.
16:08 EDTPIRPier 1 Imports lowers FY16 outlook
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16:06 EDTPIRPier 1 Imports reports Q2 EPS 4c, consensus 7c
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15:12 EDTBBBYBed Bath & Beyond September 59 weekly straddle priced for 5.3% movement
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15:00 EDTPIR, BBBYNotable companies reporting after market close
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14:07 EDTBBBYPride Brands recalls 13,900 Bed Bath & Beyond hammock stands
Pride Family Brands has recalled roughly 13,900 hammock stands sold under the Bed Bath & Beyond Destination Summer private label. The firm has received 13 reports of the stands' hooks bending or breaking, resulting in consumers falling to the ground and injuring various body parts. The stands were sold in Bed Bath & Beyond stores nationwide and online from March 2014 through July 2015 for approximately $100. Reference Link
September 23, 2015
15:22 EDTPIRPier 1 Imports volatility elevated into Q2 and outlook
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15:05 EDTBBBYBed Bath & Beyond volatility elevated into Q2 and outlook
Bed Bath & Beyond September weekly call option implied volatility is at 92, October is at 37, November is at 30; compared to its 52-week range of 15 to 40, suggesting large near term price movement into the expected release of Q2 results on September 24.
September 22, 2015
09:04 EDTWSMPBteen announces product collaboration with YouTube
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