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Stock Market & Financial Investment News

News Breaks
February 5, 2013
14:25 EDTWSM, WSM, WSM, BBBY, BBBY, BBBY, MFRM, MFRM, MFRM, HD, HD, HDCitigroup's consumer/home furnishings research team holds conference call
Consumer-Home Furnishings Analyst Research Team, along with Kathy Tierney, former CEO of Sur La Table, provide an industry update and outlook on an Analyst/Industry conference call. Relevant companies WSM, BBBY, MFRM, HD may be included on the Analyst/Industry conference call to be held on February 6 at 3 pm.
News For WSM;BBBY;MFRM;HD From The Last 14 Days
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September 23, 2014
16:17 EDTBBBYBed Bath & Beyond sees FY14 EPS $5.00-$5.08, consensus $5.03
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16:16 EDTBBBYBed Bath & Beyond sees Q3 EPS $1.17-$1.21, consensus $1.20
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16:16 EDTBBBYBed Bath & Beyond reports Q2 EPS $1.17, consensus $1.14
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15:27 EDTBBBYNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Bed Bath & Beyond (BBBY), consensus $1.14; Copart (CPRT), consensus 41c; HB Fuller (FUL), consensus 76c; Steelcase (SCS), consensus 23c; AAR Corp. (AIR), consensus 38c; Overland Storage (OVRL), one estimate (33c).
15:15 EDTBBBYBed Bath September weekly 63 straddle priced for 5.9% move into Q2
12:51 EDTBBBYBed Bath & Beyond technical notes ahead of earnings
In the prior three months the shares have moderately outperformed the broader averages. The trend has been bullish, with very little volatility, over the interval. The stock is trading below the middle of its range for the last 52 weeks. There has been a strong degree of resistance at the $65 area since mid April of this year. On strongly bullish news, a breakout above $65 could turn the intermediate-term trend to bullish from neutral. Additional upside objectives could be at the following resistance levels on an increasing band of positive surprises: $67.25, $68.10, and $69.80. If the news is not bullish, the recent uptrend in the prior three months could be broken. A move that remains below $62 would break the short-term uptrend. Additional downside objectives could be at the following support levels on a progressive band of misses: $61.27, $59.61, and $57.80.
10:02 EDTBBBYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Analog Devices (ADI) downgraded to Neutral from Overweight at JPMorgan... Bed Bath & Beyond (BBBY) downgraded to Market Perform at William Blair... Cameco (CCJ) downgraded to Neutral from Buy at BofA/Merrill... Clorox (CLX) downgraded to Neutral from Buy at Citigroup... Concur (CNQR) downgraded to Neutral from Buy at Roth Capital... Del Frisco's (DFRG) downgraded at Sterne Agee... Dick's Sporting (DKS) downgraded to Market Perform from Outperform at William Blair... Dresser-Rand (DRC) downgraded to Hold from Buy at KeyBanc... Equinix (EQIX) downgraded to Market Perform from Outperform at Wells Fargo... Fluor (FLR) downgraded at Wells Fargo... Gordmans Stores (GMAN) downgraded at Canaccord... Jacobs Engineering (JEC) downgraded to Market Perform from Outperform at Wells Fargo... Nanometrics (NANO) downgraded to Hold from Buy at Canaccord... ON Semiconductor (ONNN) downgraded to Neutral from Overweight at JPMorgan... Siemens (SIEGY) downgraded to Equal Weight from Overweight at Barclays... Sigma-Aldrich (SIAL) downgraded to Hold from Buy at KeyBanc... Taminco (TAM) downgraded to Hold from Buy at Jefferies... Viasystems (VIAS) downgraded to Hold from Buy at Canaccord... Watsco (WSO) downgraded to Accumulate from Buy at Global Hunter.
07:36 EDTBBBYBed Bath and Beyond weekly volatility elevated into Q2 and outlook
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07:10 EDTBBBYBed Bath & Beyond downgraded to Market Perform at William Blair
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05:46 EDTBBBYBed Bath & Beyond downgraded to Market Perform from Outperform at William Blair
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September 22, 2014
07:31 EDTBBBYBed Bath & Beyond Q2 results likely similar to recent quarters, says UBS
UBS said it expects Bed Bath & Beyond's Q2 results to "look a lot like" its recent quarters, reflecting a modest comp sales increase and ongoing gross margin pressure. The firm maintains its Neutral rating and $62 price target on the stock.
September 19, 2014
11:06 EDTBBBYBed Bath and Beyond weekly volatility elevated into Q2 and outlook
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10:06 EDTWSMOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abtech Holdings (ABHD) initiated with a Buy at Chardan... Alibaba (BABA) initiated with a Buy at ... Cherokee (CHKE) initiated with a Buy at Brean Capital... Columbia Property Trust (CXP) initiated with a Sell at Goldman... Emerge Energy (EMES) initiated with a Buy at Goldman... GrubHub (GRUB) initiated with a Buy at BofA/Merrill... Iconix Brand (ICON) initiated with a Hold at Brean Capital... Ideal Power (IPWR) initiated with a Buy at Roth Capital... NorthStar Asset Management (NSAM) initiated with a Hold at MLV & Co.... Restoration Hardware (RH) initiated with a Buy at CRT Capital... Sequential Brands (SQBG) initiated with a Buy at Brean Capital... Sprouts Farmers Markets (SFM) initiated with an Overweight at Barclays... Urban Outfitters (URBN) initiated with a Neutral at Buckingham... Williams-Sonoma (WSM) initiated with a Fair Value at CRT Capital... Xcel Brands (XELB) initiated with a Buy at Brean Capital.
07:31 EDTMFRMTempur, Mattress Firm weakness would be buying opportunity, says Piper
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September 18, 2014
16:28 EDTHDHome Depot raises FY15 EPS view to $4.54 from $4.52, consensus $4.50
Based on Q3 results to date, the company confirmed its previous FY14 sales growth guidance of approximately 4.8%. The company also revised its FY14 diluted EPS growth guidance and expects that FY14 diluted EPS will grow by 21% to approximately $4.54, versus the company's prior guidance of $4.52. The company's FY14 diluted EPS guidance includes estimates for the cost to investigate the data breach, provide credit monitoring services to its customers, increase call center staffing, and pay legal and professional services, all of which are expensed as incurred in a gross amount of approximately $62M, partially offset by a $27M receivable for costs the company believes are reimbursable and probable of recovery under its insurance coverage. Further, the company's FY14 diluted earnings-per-share guidance includes a pre-tax gain of approximately $100M related to the sale of 3.6M shares of HD Supply common stock, which occurred and will be recognized in Q3. The company's ownership of HD Supply is now approximately 8.2M shares. The company's FY14 diluted EPS guidance does not include an accrual for other yet-to-be determined estimated probable losses related to the breach. At this time, other than the breach-related costs contained in the company's updated FY14 diluted earnings-per-share guidance, the company is not able to estimate the costs, or a range of costs, related to the breach.
16:26 EDTHDHome Depot reports cyber attack put 56M unique payment cards information at risk
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16:24 EDTWSMWilliams-Sonoma initiated with a Fair Value at CRT Capital
Target $72.
16:23 EDTHDHome Depot completes malware elimination, enhanced encryption of payment data
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16:22 EDTHDHome Depot completes malware elimination, enhanced encryption of payment data
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10:40 EDTWSM, BBBY, HDPier 1 Imports falls to 12-month low after weak Q2, lowered outlook
Shares of home furnishings retailer Pier 1 Imports (PIR) hit a 12-month low after the company's second quarter results fell below analysts' consensus estimates and it reduced its fiscal 2015 earnings per share outlook. WHAT'S NEW: Pier 1 Imports reported Q2 EPS of 10c on revenue of $418.6M, missing analysts' consensus estimates of 14c and $426.02M, respectively. Same-store-sales for the quarter were up 4.5%. The retailer lowered its FY15 EPS outlook to 95c-$1.05 from $1.14-$1.22. Analysts' consensus estimates for FY15 EPS prior to the earnings report was $1.13. The company sees FY15 SSS in the mid-to-high single digits and gross profit, as a percentage of sales, are expected to be 40.5%-41.5%. Pier 1 Imports CEO Alex Smith said that he foresees online sales to surpass $400M in 2016. WHAT'S NOTABLE: During the company's conference call, Pier 1 Imports said that it expects to see improving merchandise margins in coming quarters with fewer coupons. The company noted plans to continue returning cash to shareholders in the form of dividends and share buybacks. ANALYST REACTION: This morning, Wells Fargo analyst Matt Neemer downgraded Pier 1 Imports to Market Perform from Outperform. He feels that the stock will be a difficult one to own in the medium term as the retailer moves towards a multi-channel approach. Neemer believes that the company has a difficult journey ahead as it cuts broad-based discounters, and he feels that consumers will take time to get accustomed to the new messaging. He cut his price target range to $15-$16 from $19-$20 for the company. Barclays analyst Alan Rifkin downgraded Pier 1 Imports to Equal Weight from Overweight due to slow revenue growth and heightened promotions. He feels that that the "soft" revenues could continue. He believes that the company's elongated online profitability pipeline and increased promotions are certain to be a burden on the business in ways that the company had not initially thought. Rifkin said that growing the top line will be even harder in the absence of promotions. He reduced his price target for shares to $14 from $18. Argus analyst Christopher Graja downgraded Pier 1 Imports to Hold from Buy due to the company's lower than anticipated Q2 earnings. He feels that in terms of the home furnishings market, companies such as Williams-Sonoma (WSM), Home Depot (HD) and Lowe's (LOW) are more "resilient" for shareholders. Pier 1 Imports was also downgraded to Hold from Buy at BB&T. PRICE ACTION: In morning trading, Pier 1 Imports fell $2.63, or 16.99%, to $12.90. Including today's pull back, the stock is down approximately 45.2% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Restoration Hardware (RH), and Bed Bath & Beyond (BBBY).
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