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Stock Market & Financial Investment News

News Breaks
June 12, 2014
11:30 EDTRH, PIR, HVT, WSM, BBBYRestoration Hardware soars to 52-week high after raising outlook
Shares of home furnishings retailer Restoration Hardware (RH) are soaring after the company's first quarter quarter results topped analysts' consensus estimates and it raised its fiscal 2014 outlook. WHAT'S NEW: Last night, Restoration Hardware reported Q1 adjusted earnings per share of 18c and revenue of $366.3M, topping estimates of 11c and $347.73M, respectively. Q1 comparable brand revenue increased 18%. For FY14, Restoration Hardware raised its adjusted EPS view to $2.24-$2.30 from $2.14-$2.22, compared to consensus of $2.20. Its FY14 revenue outlook was raised to $1.86B-$1.89B from $1.83B-$1.86B, versus consensus of $1.85B. CEO Gary Friedman said, "While we are still in the early stages of reading the results of our 2014 Source Books, we are very pleased with the initial response to our new products, and continue to believe that the design and presentation of these new books will be transformative to our business," adding that the company believes it will be able to deliver "$4 billion to $5 billion in annual sales" once its real estate transformation is complete in North America. ANALYST REACTION: This morning, research firm RW Baird raised its price target on Restoration Hardware to $90 from $84 following the company's "beat and raise" quarter. Baird kept its Outperform rating on the stock. Another firm, Wells Fargo, thinks the stock's valuation remains attractive and raised its price target range on the shares to $85-$88 from $82-$85. It kept an Outperform rating on the shares. PRICE ACTION: In late morning trading, Restoration Hardware rose about 14% to $81.37 on nearly four times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week high of $83.75. Including today's advance, the stock is up approximately 40% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Pier 1 Imports (PIR), Haverty Furniture (HVT), Williams Sonoma (WSM), and Bed Bath & Beyond (BBBY).
News For RH;PIR;HVT;WSM;BBBY From The Last 14 Days
Check below for free stories on RH;PIR;HVT;WSM;BBBY 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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