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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
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August 28, 2014
11:18 EDTWSM, PIR, RHWilliams-Sonoma plunges as FY14 outlook falls below analysts' expectations
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10:25 EDTWSMHigh option volume stocks
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09:57 EDTWSMOn The Fly: Analyst Downgrade Summary
Brown Forman (BFA, BFB, BF.A, BF.B) downgraded to Hold from Buy at Deutsche Bank... GT Advanced (GTAT) downgraded to Underperform from Market Perform at Raymond James... Genuine Parts (GPC) downgraded to Neutral from Buy at SunTrust... InterMune (ITMN) downgraded to Neutral from Buy at UBS... Tesco (TSCDY) downgraded to Hold from Buy at Deutsche Bank... Visa (V) downgraded to Market Perform from Outperform at Raymond James... Williams-Sonoma (WSM) downgraded to Equal Weight from Overweight at Morgan Stanley... Bob Evans (BOBE) downgraded to Underweight from Equal Weight at Stephens... lululemon (LULU) downgraded to Neutral from Buy at DA Davidson... J.C. Penney (JCP) downgraded to Neutral from Buy at BTIG.
09:11 EDTWSMBofA/Merrill says to buy Williams-Sonoma on near-term weakness
BofA/Merrill believes Williams-Sonoma weakness following the Q2 report is an overreaction and an opportunity to buy a high-quality retailer and leader in e-commerce. Shares are Buy rated with an $82 price target.
08:55 EDTWSMOn The Fly: Pre-market Movers
HIGHER: Digital Ally (DGLY), up 16% after announcing order from Michigan State Police for over $1.1M... EnteroMedics (ETRM), up 12.4% after reporting three-year data from Maestro RC system... Repros (RPRX), up 0.8% after Androxal achieves superiority in both co-primary endpoints in a study... Synthetic Biologics (SYN), up 2.7% after Pfizer (PFE) was granted FDA Fast Track designation for its investigational Clostridium difficile vaccine candidate. Synthetic Biologics announced earlier this week that SYN-004, the company's lead anti-infective product candidate for the prevention of the effects of C. difficile, will be presented in October... Signet (SIG), up 3.9% after Q2 revenue tops consensus. DOWN AFTER EARNINGS: Abercrombie & Fitch (ANF), down 5.7%... Guess (GES), down 8.3%... Frontline (FRO), down 7%. ALSO LOWER: Williams-Sonoma (WSM), down 10.9% after downgraded at Morgan Stanley following the company's Q2 earnings report... GT Advanced (GTAT), down 2% after downgraded at Raymond James... Sungy Mobile (GOMO), down 20.1% following earnings report, CFO resignation, downgrade of stock at Oppenheimer... Genesco (GCO), down 7.7% after cutting fiscal year forecast.
08:33 EDTWSMWilliams-Sonoma price target raised to $76 from $73 at RW Baird
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07:12 EDTWSMWilliams-Sonoma shares should be bought on weakness, says Piper Jaffray
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06:43 EDTWSMWilliams-Sonoma hurt by discounts, says Deutsche Bank
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06:08 EDTWSMWilliams-Sonoma downgraded to Equal Weight from Overweight at Morgan Stanley
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August 27, 2014
18:38 EDTWSMOn The Fly: After Hours Movers
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16:23 EDTWSMWilliams-Sonoma drops sharply after results, levels to watch
The shares have dropped sharply after earnings, which matched expectations, and outlook which is below consensus levels. At the current price of $66.80, next support down is at $64.55. Resistance is at $67.98. Sentiment in the name was strongly bullish coming into earnings which is exacerbating the downside reaction.
16:17 EDTWSMWilliams-Sonoma down 10% after Q3 earnings view below estimates
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16:16 EDTWSMWilliams-Sonoma sees FY14 EPS $3.07-$3.17, consensus $3.20
Sees FY14 revenue $4.645B-$4.725B, consensus $4.72B. Sees FY14 comparable brand revenue growth of 5%-7%. Sees FY14 capital spending $200M-$220M.
16:14 EDTWSMWilliams-Sonoma sees Q3 EPS 58c-63c, consensus 66c
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16:13 EDTWSMWilliams-Sonoma reports Q2 EPS 53c, consensus 53c
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15:27 EDTWSMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Workday (WDAY), consensus (14c); Williams-Sonoma (WSM), consensus 53c; Bally Technologies (BYI), consensus $1.22; Guess (GES), consensus 29c; Lannett (LCI), consensus 58c; Greif (GEF), consensus 84c.
14:54 EDTWSMWilliams-Sonoma technical comments ahead of earnings
In the prior three months the stock has outperformed the broader averages, trading up over 10.8%. The trend in the last three weeks has been strongly bullish after a more volatile trading range. Sentiment in the name is strongly bullish with the shares having hit a fresh 52-week high and life high earlier in Wednesday's session at $75.69. Without established overhead resistance, a target level above today's high would be at $80. On bearish news, a first test down of importance would be at the sell side analyst average 1-year price target of $71.16. A breakdown below that level on strongly disappointing news would be at $69.49.
07:25 EDTWSMWilliams-Sonoma September volatility elevated into Q2 and outlook
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August 26, 2014
07:56 EDTWSMWilliams-Sonoma deserves its valuation premium, says RW Baird
Baird believes Williams-Sonoma deserves a valuation premium given its superior multi-channel model, leverage to home related spending, and multiple avenues for growth. Shares of Williams-Sonoma are Outperform rated with a $73 price target, which the firm said will be revisited following the company's Q2 earnings report.
August 22, 2014
09:00 EDTWSMWilliams-Sonoma September volatility elevated into Q2 and outlook
Williams-Sonoma September call option implied volatility is at 28, October is at 25, November is at 24; compared to its 26-week average of 25 according to Track Data, suggesting larger price movement into the expected release of Q2 results on August 27.
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