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Stock Market & Financial Investment News

News Breaks
March 13, 2014
11:22 EDTBBBY, WSM, PIR, RH, KIRKWilliams-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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April 21, 2015
10:01 EDTWSM, BBBYOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Agios Pharmaceuticals (AGIO) initiated with a Perform at Oppenheimer... Bed Bath & Beyond (BBBY) initiated with a Buy at Cantor... BioCryst (BCRX) initiated with an Outperform at FBR... Bovie Medical (BVX) initiated with an Outperform at JMP Securities... Calavo Growers (CVGW) initiated with a Buy at Janney Capital... Clorox (CLX) initiated with a Sector Weight at KeyBanc... Coach (COH) initiated with a Sell, $32 target at Cantor... Compugen (CGEN) initiated with an Outperform at Oppenheimer... Corcept Therapeutics (CORT) initiated with an Outperform at FBR Capital... Criteo (CRTO) initiated with an Outperform at Raymond James... CytRx (CYTR) initiated with an Outperform at FBR Capital... Dollar Tree (DLTR) initiated with a Buy at Cantor... Facebook (FB) initiated with a Buy at Cleveland Research... Gap (GPS) initiated with a Hold at Cantor... Genocea (GNCA) initiated with an Outperform at FBR Capital... Geron (GERN) initiated with an Outperform at Oppenheimer... Home Depot (HD) initiated with a Hold at Cantor... HubSpot (HUBS) initiated with a Buy at Needham... Jernigan Capital (JCAP) initiated with a Buy at Wunderlich... La Jolla (LJPC) initiated with an Outperform, $43 target at Oppenheimer... Lowe's (LOW) initiated with a Hold at Cantor... Lumber Liquidators (LL) initiated with a Buy, $45 target at Cantor... New Residential (NRZ) reinstated with an Outperform at Credit Suisse... Rent-A-Center (RCII) initiated with a Buy at Cantor... Ross Stores (ROST) initiated with a Hold at Cantor... Rubicon Project (RUBI) initiated with an Outperform at Raymond James... SolarCity (SCTY) initiated with an Outperform at Northland... SolarEdge (SEDG) initiated with a Buy at Canaccord... Spectrum Brands (SPB) initiated with an Overweight at KeyBanc... Summit Materials (SUM) initiated with a Buy at BB&T... Synergy Resources (SYRG) initiated with a Buy at KLR Group... Synta Pharmaceuticals (SNTA) initiated with an Outperform at FBR Capital... TJX (TJX) initiated with a Hold at Cantor... Tiffany (TIF) initiated with a Hold at Cantor... TubeMogul (TUBE) initiated with a Market Perform at Raymond James... Urban Outfitters (URBN) initiated with a Buy at Cantor... WhiteWave Foods (WWAV) initiated with a Neutral at Janney Capital... Williams-Sonoma (WSM) initiated with a Hold at Cantor... Zafgen (ZFGN) initiated with an Outperform at FBR Capital.
April 20, 2015
16:21 EDTWSMWilliams-Sonoma initiated with a Hold at Cantor
Target $77.
16:21 EDTBBBYBed Bath & Beyond initiated with a Buy at Cantor
Target $83.
April 17, 2015
09:05 EDTPIRPier 1 Imports management to meet with Oppenheimer
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April 15, 2015
10:19 EDTBBBY, PIROptions with decreasing implied volatility
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April 14, 2015
15:11 EDTKIRKKirkland's management to meet with SunTrust
Meetings to be held in Boston on April 15 and in Toronto on April 16 hosted by SunTrust.
10:34 EDTBBBY, PIROptions with decreasing implied volatility
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April 13, 2015
10:33 EDTPIR, BBBYOptions with decreasing implied volatility
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06:22 EDTWSMGap, Target, others scrutinized by NY AG over staffing practices, WSJ says
Several major retailer including Gap (GPS) and Target (TGT) are under investigation by New York Attorney General Eric Schneiderman over their staffing practices and whether they require workers to show up or stay home with little notice, The Wall Street Journal reports. Schneiderman sent letters warning Abercrombie & Fitch (ANF), JC Penney (JCP), Urban Outfitters (URBN), TJX Cos (TJX), Ann Inc (ANN), L Brands (LB), Burlington Stores (BURL), Sears Holdings (SHLD), Williams-Sonoma (WSM) and J Crew Group that he believes the chains are using on-call scheduling and that such practices may be in violation of New York laws. Reference Link

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