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Stock Market & Financial Investment News

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March 13, 2014
11:22 EDTPIR, RH, KIRK, BBBY, WSMWilliams-Sonoma soars to 52-week high after results top estimates
Shares of home goods retailer Williams-Sonoma (WSM) hit a new 52-week high after the company's fourth quarter results topped expectations. In addition to its flagship brand, the company also operates the West Elm and Pottery Barn collection of chains. WHAT'S NEW: Last night, Williams-Sonoma reported Q4 earnings per share of $1.38 and revenue of $1.47B, beating expectations of $1.36 and $1.43B, respectively. Q4 comparable brand revenue increased 10.4%. The company forecast Q1 EPS of 41c-44c and revenue of $920M-$940M, compared to consensus of 46c and $943.61M, respectively. Q1 comparable brand revenue is expected to increase 4%-6%. For FY14, Williams-Sonoma expects EPS and revenue of $3.05-$3.15 and $4.63B-$4.71B, versus consensus of $3.20 and $4.64B, respectively. FY14 comparable brand revenue is expected to increase 5%-10%. The company also raised its quarterly dividend to 33c from 31c per share. ANALYST REACTION: This morning, Citigroup removed Williams-Sonoma from its U.S. Focus list following the company's Q4 results, citing the stock's strong performance over the past year. However, the firm reiterated a Buy rating on shares with a $67 price target. Another firm, RW Baird, raised their price target on the shares to $70 from $64. The firm cited robust top-line trends, leverage to housing and e-commerce, and emerging international growth. RW Baird has an Outperform rating on Williams-Sonoma. PRICE ACTION: In late morning trading, Williams-Sonoma rose $5.95, or about 10%, to $64.92 on three times its average daily trading volume. The stock continues to make new 52-week highs as the session unfolds. Including today's advance, the stock has gained about 43% over the past twelve months. OTHERS TO WATCH: Other retailers specializing in home goods include Pier 1 Imports (PIR), Bed Bath & Beyond (BBBY), and Restoration Hardware (RH). Another company in the space, Kirklands (KIRK), also reported results this morning and its shares were up about 6% in late morning trading.
News For WSM;KIRK;PIR;BBBY;RH From The Last 14 Days
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November 20, 2014
12:46 EDTWSM, KIRKOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite disappointing purchasing managers' index readings in both China and Europe. The market took its early lead from Europe and opened lower, though the major averages moved into positive territory following a trio of better than expected domestic economic reports, as the leading economic indicators, Philadelphia Fed survey, and existing home sales all beat consensus forecasts. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 2K to 291K in the week ended November 15, versus expectations for 280K first-time claims. The Consumer Prices Index was unchanged in October, versus expectations for a drop of 0.1%. The core CPI reading, which excludes food and energy, rose 0.2%, versus expectations for an increase of 0.1%. Markit's flash manufacturing PMI slipped 1.2 points to 54.7 in November, versus the consensus forecast for a 56.5 reading. Existing home sales rose 1.5% to a 5.26M rate in October, which beat expectations for a decline to a 5.15M unit rate. The index of leading indicators climbed 0.9% to 105.2 in October, beating expectations for a 0.5% increase. The Philadelphia Fed manufacturing index surged to 40.8 in November, easily topping the consensus expectation for a 18.0 reading. In Asia, the HSBC/Markit manufacturing PMI for China fell to a six-month low of 50.0 in the flash reading for November, which is down from a final reading of 50.4 in October and below the 50.3 consensus forecast. In Europe, Markit's flash eurozone PMI composite output index, which tracks surveys from both the manufacturing and services sectors, came in at 51.4 for November, which was down from 52.1 in October and represents the measure's lowest level in 16 months. COMPANY NEWS: Shares of Best Buy (BBY) advanced 7% after its third quarter profit beat estimates and it reported that its domestic same-store sales grew 3.2%. The electronics retailer also said the sales trends it is seeing as its enters the critical fourth quarter are "encouraging from a top-line perspective." MAJOR MOVERS: Among the notable gainers was Williams-Sonoma (WSM), which rose nearly 10% after the home goods retailer's third quarter results surpassed analystsí consensus estimates and the company raised its fiscal 2014 outlook. Also higher following its own "beat and raise" quarterly report was Kirkland's (KIRK), which advanced 18%. Among the noteworthy losers was Liquidity Services (LQDT), which dropped 9% after its fourth quarter earnings missed expectations and the company said it will no longer give yearly guidance. Also lower was Keurig Green Mountain (GMCR), which dropped 6% after its first quarter profit outlook fell short of analystsí consensus estimates and the company's Chief Financial Officer announced plans to depart. INDEXES: Near midday, the Dow was up 7.84, or 0.04%, to 17,693.57, the Nasdaq was up 22.08, or 0.47%, to 4,697.80, and the S&P 500 was up 3.01, or 0.15%, to 2,051.73.
12:19 EDTPIR, RH, WSMWilliams-Sonoma hits 52-wk high after Q3 results beat estimates, raises outlook
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11:23 EDTKIRKKirkland's sees FY14 SSS up 4.5%-5.5%
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10:35 EDTWSMOptions with decreasing implied volatility
Options with decreasing implied volatility: DKS SPLS WB GMCR VRX HTZ WSM VIPS BBY AMAT
09:21 EDTWSMOn The Fly: Pre-market Movers
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06:53 EDTKIRKKirkland's sees Q4 EPS 77c-84c, consensus 84c
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06:51 EDTKIRKKirkland's raises lower end of FY14 EPS view to 90c-97c from 87c-97c
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06:47 EDTKIRKKirkland's reports Q3 EPS 7c, consensus 3c
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November 19, 2014
18:22 EDTWSMOn The Fly: After Hours Movers
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16:14 EDTWSMWilliams-Sonoma up 5.9% after reporting Q3 results, guidance
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16:13 EDTWSMWilliams-Sonoma sees FY14 EPS $3.11-$3.19, consensus $3.18
Sees FY14 revenue $4.86B-$4.73B, consensus $4.7B. Sees FY14 comparable brand revenue up 10.2%-10.4%.
16:12 EDTWSMWilliams-Sonoma sees Q4 EPS $1.42-$1.50, consensus $1.53
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16:11 EDTWSMWilliams-Sonoma reports Q3 EPS 68c, consensus 63c
Reports Q3 revenue $1.14B, consensus $1.12B. Reports Q3 comparable brand revenue up 8.7%.
15:31 EDTWSMNotable companies reporting after market close
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14:49 EDTWSMWilliams-Sonoma technical comments ahead of earnings
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13:29 EDTWSMWilliams-Sonoma November 70 straddle priced for 6.4% move into Q3
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12:04 EDTWSMWilliams-Sonoma volatility elevated into Q3 and outlook
Williams-Sonoma November call option implied volatility is at 101, December is at 35, January is at 29; compared to its 26-week average of 25 according to Track Data, suggesting large near term price movement into the expected release of Q3 results today.
November 18, 2014
13:25 EDTWSMWilliams-Sonoma volatility elevated into Q3 and outlook
Williams-Sonoma November call option implied volatility is at 77, December is at 33, January is at 27; compared to its 26-week average of 25 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on November 19.
November 14, 2014
16:58 EDTBBBYThird Point gives quarterly update on stakes
NEW STAKES: Alibaba (BABA), eBay (EBAY), Bed Bath & Beyond (BBBY), Shire (SHPG), and Parker Hannifin (PH). INCREASED STAKES: Actavis (ACT), Amgen (AMGN), EQT (EQT), Sensata (ST), Coca-Cola Enterprises (CCE). DECREASED STAKES: Williams Cos (WMB), Ally Financial (ALLY), Cheniere Energy (LNG), YPF (YPF), and FedEx (FDX). LIQUIDATED STAKES: AIG (AIG), T-Mobile (TMUS), Rackspace (RAX), Hertz (HTZ), and Citrix Systems (CTXS).
07:56 EDTWSMWilliams-Sonoma volatility elevated into Q3 and outlook
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