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Stock Market & Financial Investment News

News Breaks
July 7, 2014
10:33 EDTRH, BBBY, PIR, KIRK, WSMBed Bath & Beyond slips despite $2B buyback following downgrade
Shares of home decor retailer Bed Bath & Beyond (BBY) are sliding this morning despite its board authorizing a new $2B share repurchase program. The drop in the stock this morning also comes after Bank of America Merrill Lynch downgraded the stock to an Underperform from a Neutral rating. WHAT'S NEW: Bed Bath & Beyond authorized a new $2B share repurchase program, which it expects it will commence after the completion of its existing share repurchase program. The company noted that, as of May 31, it had approximately $861M remaining under its existing buyback program. The company is currently planning that the new share repurchase program will be completed during full-year 2016, it added. ANALYST OPINION: Bank of America Merrill Lynch analyst Denise Chai downgraded Bed Bath & Beyond to Underperform this morning, stating that the firm sees ongoing risk to the company's guidance and estimates driven by "modest" store traffic patterns and ongoing pressure to sales and margins from online rivals. Chai says that the market views online rivals as Bed Bath & Beyond's main threat to comps and feels that the retailer made a crucial mistake in waiting until 2012 to make major investment in its online platform. For this reason, the firm feels that the company will face a continuous cycle of very limited online growth, flat comps, forced reinvestment and deleverage going forward. BofA Merrill Lynch lowered its price target on the stock to $51 from $63. 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). PRICE ACTION: During morning trading, Bed Bath & Beyond was down 15c, or 0.25%, to $59.20.
News For BBBY;WSM;PIR;RH;KIRK From The Last 14 Days
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April 9, 2015
10:32 EDTPIR, BBBYOptions with decreasing implied volatility
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10:00 EDTPIROn The Fly: Analyst Upgrade Summary
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09:27 EDTPIROn The Fly: Pre-market Movers
HIGHER: Pier 1 Imports (PIR), up 5.8% after earnings beat estimates, dividend boosted, and shares upgraded at Wedbush... Novogen (NVGN) rose after announcing that Australian studies revealed its experimental drug, Anisina, killed melanoma cells irrespective of their mutational status. Shares of small-cap Novogen rose 35% in pre-market trading following the company's report on the studies... TASER (TASR), up 3.8% after announcing UK order from London for 178 AXON body cameras... United Continental (UAL), up 2.8% after narrowing Q1 PRASM forecast... Walgreens Boots Alliance (WBA), up 2.4% after reporting Q2 results. LOWER: Zynga (ZNGA), down 12% after announcing last night that current CEO Don Mattrick will depart the company and the board and Mark Pincus, Zynga's founder and chairman, will return to the role of CEO... Alcoa (AA), down 2% after reporting Q1 financial results and giving 2015 guidance... Cliffs Natural (CLF), down 4.6% after BMO Capital cut it rating to the equivalent of sell and halved its price target on the stock to $4.
09:18 EDTBBBYBofA/Merrill retail analysts hold an analyst/industry conference call
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07:54 EDTPIRPier 1 Imports upgraded to Outperform from Neutral at Wedbush
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05:51 EDTBBBYWells Fargo remains cautious on Bed Bath & Beyond
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April 8, 2015
19:46 EDTBBBY, PIROn The Fly: After Hours Movers
UP AFTER EARNINGS: Apogee (APOG), up 6.4%... Pier 1 Imports (PIR), up 4.4%. ALSO HIGHER: Inovio Pharmaceuticals (INO), up 5.6% after being selected by DARPA to lead $45M Ebola prevention program. DOWN AFTER EARNINGS: Alcoa (AA), down 3.5%... Bed Bath & Beyond (BBBY), down 3.5%. ALSO LOWER: Zynga (ZNGA), down 10.3% after announcing CEO transition... Memorial Production (MEMP), down 2.9% after filing to sell 4.6M common units owned by MRD Holdco... Regulus (RGLS), down 2.2% after filing to sell 3.3M shares for Isis Pharmaceuticals.
16:19 EDTBBBYBed Bath & Beyond sees FY15 SSS up 2%-3%
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16:18 EDTBBBYBed Bath & Beyond sees Q1 EPS 90c-95c, consensus $1.01
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16:17 EDTPIRPier 1 Imports sees FY16 EPS 83c-87c, consensus 90c
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16:16 EDTBBBYBed Bath & Beyond reports Q4 EPS $1.80, consensus $1.80
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16:16 EDTPIRPier 1 Imports sees Q1 EPS 7c-8c, consensus 12c
16:15 EDTPIRPier 1 Imports sees Q1 SSS rising approximately 4%
“Although fiscal 2015 ending inventories are higher than originally planned, their complexion is healthy and not believed to pose a substantial markdown risk. We expect inventory levels to begin to moderate as we move through 2H16. We anticipate that comparable sales growth will be approximately 4% in Q1, reflecting strong customer response to our spring assortments. We will begin making strategic reductions to the size of our store base as e-Commerce sales penetration continues to increase. We anticipate these actions will help drive EBITDA dollar growth in FY16, and have a more pronounced effect in FY17. We plan to continue to return excess capital to shareholders through share repurchases and cash dividends. The company has initiated a plan to optimize its store portfolio as part of its strategy to drive growth through its omni-channel platform, reduce occupancy and payroll costs and improve efficiency. The company plans to close approximately 100 stores over the next three years, primarily through natural lease expirations and relocations. Looking ahead to fiscal 2017, we expect to achieve measured top line growth, inclusive of store closures, and grow e-Commerce sales penetration to approximately 20%," said the company.
16:15 EDTPIRPier 1 Imports rises after hours, levels to watch
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16:12 EDTPIRPier 1 Imports reports Q4 adjusted EPS 39c, consensus 36c
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16:09 EDTPIRPier 1 Imports raises quarterly dividend 17% to 7c per share
Pier 1 Imports announced that its board declared a 7c per share quarterly cash dividend. The dividend will be paid on May 6 to shareholders of record on April 22, and represents a 17% increase from the 6c cash dividend paid in the prior period.
15:24 EDTBBBY, PIRNotable companies reporting after market close
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14:45 EDTBBBYBed Bath & Beyond technical comments ahead of earnings
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April 7, 2015
10:19 EDTPIRHigh option volume stocks
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08:14 EDTBBBYBed Bath & Beyond April volatility elevated into Q4 and outlook
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