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Stock Market & Financial Investment News

News Breaks
June 26, 2014
11:20 EDTBBBY, WSM, PIR, RH, KIRKBed 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
Check below for free stories on BBBY;WSM;PIR;RH;KIRK the last two weeks.
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July 24, 2014
17:35 EDTWSMWilliams-Sonoma names Dean Miller as COO, other executive appointments
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July 21, 2014
10:02 EDTRHOn The Fly: Analyst Downgrade Summary
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09:16 EDTRHRestoration Hardware downgraded at BB&T
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09:01 EDTRHRestoration Hardware downgraded to Hold from Buy at BB&T
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July 17, 2014
10:41 EDTBBBYBed Bath & Beyond announces $1.1B accelerated share repurchase
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10:00 EDTPIR, WSM, BBBYOn The Fly: Analyst Initiation Summary
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July 16, 2014
17:25 EDTBBBYBed Bath & Beyond initiated with a Neutral at Nomura
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17:25 EDTWSMWilliams-Sonoma initiated with a Buy at Nomura
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17:24 EDTRHRestoration Hardware initiated with a Buy at Nomura
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17:24 EDTPIRPier 1 Imports initiated with a Buy at Nomura
Target $22.
July 15, 2014
06:04 EDTBBBYStocks with implied volatility below IV index mean; BBBY SHPG
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05:42 EDTBBBYBed Bath & Beyond announces planned $1.1B accelerated share repurchase
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