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Stock Market & Financial Investment News

News Breaks
July 7, 2014
10:33 EDTBBBY, PIR, KIRK, WSM, RHBed 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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May 21, 2015
11:06 EDTKIRKKirkland's says Q2 is normally a promotional quarter
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09:28 EDTWSM, KIRKOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Quality Systems (QSII), up 9.5%... Trina Solar (TSL), up 7.1%... Best Buy (BBY), up 7.5%... Kirkland's (KIRK), up 4.3% after reporting quarterly results, guidance, and announcing a $1.50 per share special dividend... Williams-Sonoma (WSM), up 3.8%... salesforce.com (CRM), up 4.8%... Youku Tudou (YOKU), up 1.2%. ALSO HIGHER: CTPartners (CTP), up 30.7% after agreeing to exclusive negotiations to be acquired by DHR International... Omnicare (OCR), up 1.3% after CVS Health (CVS) agrees to acquire the company for $98.00 per share, CVS Health is up 1%... Telenav (TNAV), up 3.3% after being initiated with an Outperform at Northland. DOWN AFTER EARNINGS: NetApp (NTAP), down 11.7%... Rexnord (RXN), down 9.9%... Dollar Tree (DLTR), down 2%. ALSO LOWER: Wave Systems (WAVX), down 22.9% after 7.3M share Spot Secondary priced at 65c... Lumber Liquidators (LL), down 16.5% after CEO resigns... Dicerna Pharmaceuticals (DRNA), down 5.8% after 2.75M share Secondary priced at $17.75.
09:03 EDTWSMOptions expected to be active
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06:50 EDTKIRKKirkland's sees Q2 EPS (13c)-(10c), consensus (4c)
Sees Q2 revenue $115M-$116M, consensus $115.38M. Sees Q2 SSS up 5%-7%.
06:49 EDTKIRKKirkland's sees FY15 EPS $1.18-$1.23, consensus $1.19
Sees FY15 revenue up 10$-12%. Sees FY15 SSS up 3%-5%.
06:47 EDTKIRKKirkland's reports Q1 EPS 14c, consensus 11c
Reports Q1 revenue $118.3M, consensus $117.68M. Reports Q1 SSS up 3%.
06:44 EDTKIRKKirkland's announces $1.50 per share special cash dividend
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May 20, 2015
19:02 EDTWSMOn The Fly: After Hours Movers
UP AFTER EARNINGS: salesforce.com (CRM), up 6.6%... Williams-Sonoma (WSM), up 4%. ALSO HIGHER: CTPartners (CTP), up 42% after agreeing to exclusive negotiations to be acquired by DHR International. DOWN AFTER EARNINGS: Xunlei (XNET), down 14.9%... NetApp (NTAP), down 8%... Open Text (OTEX), down 7.7%.... Rexnord (RXN), down 7.1%... Synopsys (SNPS), down 1.5%... Youku Tudou (YOKU), down 1.2%. ALSO LOWER: Wave Systems (WAVX), down 8.5% after filing to sell Class A common stock and warrants... OXiGENE (OXGN), down 5.1% after filing mixed securities shelf.
16:15 EDTWSMWilliams-Sonoma sees FY15 EPS $3.35-$3.45, consensus $3.46
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16:13 EDTWSMWilliams-Sonoma sees Q2 EPS 53c-57c, consensus 59c
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16:11 EDTWSMWilliams-Sonoma reports Q1 EPS 48c, consensus 45c
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15:00 EDTKIRKNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Dollar Tree (DLTR), consensus 75c... Best Buy (BBY), consensus 29c... Advance Auto Parts (AAP), consensus $2.48... Patterson Companies (PDCO), consensus 65c... Donaldson Company (DCI), consensus 35c... Booz Allen Hamilton Holding (BAH), consensus 33c... The Buckle (BKE), consensus 78c... Monro Muffler Brake (MNRO), consensus 39c... Brady Corp. (BRC), consensus 37c... Trina Solar (TSL), consensus 9c... Quality Systems (QSII), consensus 15c... Kirkland's (KIRK), consensus 11c... Bon-Ton Stores (BONT), consensus ($1.56).
15:00 EDTWSMNotable companies reporting after market close
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14:31 EDTWSMWilliams-Sonoma technical commentary ahead of earnings
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May 19, 2015
15:35 EDTWSMWilliams-Sonoma June 77.5 straddle priced for 7.6% movement into Q1
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07:06 EDTWSMWilliams-Sonoma June volatility increases into Q1 and outlook
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May 18, 2015
08:33 EDTRHRestoration Hardware names Sanchak as Chief Real Estate & Development Officer
Restoration Hardware announced that David Stanchak has joined the Company as Chief Real Estate and Development Officer, effective immediately. In this newly created position, Stanchak will be leading the transformation of RH’s current legacy galleries into next generation Design Galleries, with responsibility for the company’s real estate and store development efforts. Stanchak will report to RH’s Chairman and CEO, Gary Friedman, and serve as a member of the company’s Executive Leadership team.
05:53 EDTBBBYStocks with implied volatility movement; YOKU BBBY
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May 15, 2015
14:03 EDTBBBYBed Bath & Beyond spikes on Leonard Green stake
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13:31 EDTBBBYBed Bath & Beyond rallies after Lenoard Green reports stake
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