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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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October 12, 2015
09:33 EDTWSMWilliams-Sonoma downgraded to Peer Perform from Outperform at Wolfe Research
09:31 EDTRHRestoration Hardware upgraded to Outperform from Peer Perform at Wolfe Research
October 8, 2015
10:00 EDTPIR, WSM, BBBYOn The Fly: Analyst Initiation Summary
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05:53 EDTWSMWilliams-Sonoma initiated with a Hold at Jefferies
Target $83.
05:53 EDTPIRPier 1 Imports initiated with a Hold at Jefferies
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05:53 EDTBBBYBed Bath & Beyond initiated with a Hold at Jefferies
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October 5, 2015
13:47 EDTBBBYOptions with increasing volume
Options with increasing volume; DOW BBBY HOG INFY JBL SFUN YNDX AMAT CIT
10:31 EDTBBBYBed Bath & Beyond calls active on renewed takeover chatter
Bed Bath & Beyond weekly October 58.5 and 59 calls are active on total call volume of 6,600 contracts (600 puts) on renewed takeover chatter. October weekly call volatility is at 36, October is at 44, November is at 28; compared to its 52-week range of 17 to 39. Active call volume suggests traders taking positions for upside price movement.
10:27 EDTBBBYRumor: Bed Bath & Beyond moves up on renewed takeover chatter
06:24 EDTRHRestoration Hardware remains a top idea at Deutsche Bank
After meeting with management, Deutsche Bank analyst Adam Sindler says Restoration Hardware remains a top idea. The company's "solid beat and raise potential" remains intact at it completes its real estate transformation and broadens its offering, Sindler tells investors in a research note. He keeps a Buy rating on the retailer with a $105 price target.
October 1, 2015
10:16 EDTBBBYOptions with decreasing implied volatility: WMB TEX BBBY NKE
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10:01 EDTPIRPier 1 Imports recalls 2,500 swivel armchairs in U.S. for falling hazard
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September 30, 2015
10:52 EDTBBBYOptions with decreasing implied volatility
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