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Stock Market & Financial Investment News

News Breaks
June 12, 2014
11:30 EDTBBBY, PIR, WSM, RH, HVTRestoration 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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July 31, 2015
10:02 EDTRHOn The Fly: Analyst Initiation Summary
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06:43 EDTRHRestoration Hardware initiated with a Hold at Evercore ISI
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July 29, 2015
17:27 EDTHVTHaverty Furniture reports Q2 EPS 21c, consensus 19c
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10:00 EDTWSMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 3D Systems (DDD) upgraded to Neutral from Underperform at Longbow... AK Steel (AKS) upgraded to Outperform from Neutral at Macquarie... Ally Financial (ALLY) upgraded to Outperform from Neutral at Credit Suisse... Amazon.com (AMZN) upgraded to Buy from Hold at Stifel... Arrow Electronics (ARW) upgraded to Buy from Underperform at CLSA... Beacon Roofing (BECN) upgraded to Buy from Neutral at CL King... Citrix (CTXS) upgraded to Outperform at Baird... Commvault (CVLT) upgraded to Buy from Hold at Jefferies... FireEye (FEYE) upgraded on positive checks, business mdoel changes at Oppenheimer... Hibbett Sports (HIBB) upgraded to Neutral from Underperform at Sterne Agee CRT... Integra LifeSciences (IART) upgraded to Outperform at Raymond James... M/A-COM (MTSI) upgraded to Buy from Hold at Needham... Norsk Hydro (NHYDY) upgraded to Neutral from Underperform at Exane BNP Paribas... NuVasive (NUVA) upgraded to Outperform from Market Perform at Northland... SM Energy (SM) upgraded to Outperform from Market Perform at Raymond James... Scorpio Bulkers (SALT) upgraded to Buy from Hold at Deutsche Bank... Sirius XM (SIRI) upgraded to Buy from Hold at Wunderlich... Sprouts Farmers Markets (SFM) upgraded to Neutral from Underperform at Longbow... Supervalu (SVU) upgraded to Equal Weight from Underweight at Morgan Stanley... Waters (WAT) upgraded to Outperform from Market Perform at Wells Fargo... Wells Fargo (WFC) upgraded to Buy from Neutral at Guggenheim... Williams-Sonoma (WSM) upgraded to Overweight from Neutral at JPMorgan... YRC Worldwide (YRCW) upgraded to Strong Buy at Raymond James.
06:12 EDTWSMWilliams-Sonoma upgraded to Overweight from Neutral at JPMorgan
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July 24, 2015
13:24 EDTHVTHaverty Furniture considered by PE firms as possible target, dealReporter says
Haverty Furniture may see a private equity overture as buyout interest heats up in the furniture space, said dealReporter, noting that sector advisors told it that a "number" of PE firms have recently considered the idea of acquiring Haverty, according to contacts.

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