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January 17, 2013
06:08 EDTWSMWilliams-Sonoma downgraded to Neutral from Buy at Goldman
Goldman downgraded Williams-Sonoma to reflect a peak in earnings and margin growth. Price target remains $51.
News For WSM From The Last 14 Days
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August 28, 2015
16:29 EDTWSMStocks end volatile week higher as China whipsaws U.S. market
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August 27, 2015
16:28 EDTWSMOn The Fly: Top stock stories for Thursday
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12:41 EDTWSMOn The Fly: Top stock stories at midday
Stocks began the session sharply higher, extending the rally that started yesterday. A number of factors may be contributors to today's strength, including China's government intervening in its market last night and pushing its key stock index up 5%, dovish comments made by N.Y. Fed President Bill Dudley yesterday regarding the potential for a September interest rate hike and an upward revision in the estimate of second quarter GDP growth. ECONOMIC EVENTS: In the U.S., the updated estimate of GDP growth showed the economy grew 3.7% in the second quarter, topping expectations for annualized growth to be revised up to 3.2% from the prior estimate of 2.3%. Personal consumption in the quarter rose 3.1%, matching expectations. 271,000 initial jobless claims were filed last week, versus expectations for 274,000 first-time claims. The NAR pending home sales index rose 0.5% in July, missing the expectation for an increase of 1%. In China, the Shanghai composite index rose 5.3%, stemming its recent string of down days, with media reports indicating that the government may have played a role by stepping in to buy stocks. COMPANY NEWS: Shares of St. Jude Medical (STJ) advanced 4.5% after the Financial Times reported, citing sources, that Abbott (ABT) is prepping a takeover offer that would value the medical device maker at $25B. An Abbott spokesperson, however, issued statements to Bloomberg, CNBC and the Wall Street Journal following the report to deny that it is pursuing a bid for St. Jude, which struck a deal in July to acquire fellow medical device manufacturer Thoratec (THOR) for $63.50 per share in cash, or $3.4B, net of cash acquired. Thoratec shares slid 0.5% near noon following the report, as investors may be concerned that the previously announced deal could be jeopardized if Abbott does in fact step in to the situation... Shares of Freeport-McMoRan (FCX) surged 28% this morning after the miner and oil explorer announced plans to cut spending and production, including plans to cut about 10% of employees and contractors at its U.S. mining operations. Freeport has lowered its 2016 capital expenditure budget to $4B, or approximately 29% lower than the $5.6B estimate it issued on July 23, which it said reflects "aggressive" actions in response to current market conditions. MAJOR MOVERS: Among the notable gainers was Movado (MOV), which gained 20% after the company reported better than expected second quarter results and backed its fiscal year earnings view. Also higher following its earnings report was Signet Jewelers (SIG), whose shares rose 13%. Another jeweler reporting earnings this morning, Tiffany (TIF), which slid 3% after the company lowered its fiscal year outlook. Among the other noteworthy losers following their earnings reports were Williams-Sonoma (WSM), which dropped 7%, and Dollar General (DG), which slipped 4%. INDEXES: Near midday, the Dow was up 311.33, or 1.91%, to 16,596.84, the Nasdaq was up 109.30, or 2.33%, to 4,806.83, and the S&P 500 was up 42.77, or 2.2%, to 1,983.28.
10:38 EDTWSMWilliams-Sonoma sinks after earnings, BofA downgrade
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10:00 EDTWSMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Cameron (CAM) downgraded to Hold from Buy at Gabelli... Just Energy (JE) downgraded to Sector Perform from Outperform at RBC Capital... TerraForm (TERP) downgraded to Neutral at Baird... Williams-Sonoma (WSM) downgraded to Neutral from Buy at BofA/Merrill.
09:26 EDTWSMOn The Fly: Pre-market Movers
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09:26 EDTWSMWilliams-Sonoma shares should be bought on post-earnings dip, says JPMorgan
JPMorgan analyst Christopher Horvers said he sees "numerous credible reasons" giving him confidence that Williams-Sonoma can still drive topline growth and margin improvements and recommends investors "buy the dip" he expects in shares following the company's Q2 report. Horvers trimmed his price target on Williams-Sonoma to $97 from $103 but maintains an Overweight rating on the stock.
08:53 EDTWSMWilliams-Sonoma downgraded to Neutral from Buy at BofA/Merrill
BofA/Merrill downgraded Williams-Sonoma to Neutral with a new $88 price target. The firm downgraded shares based on year-to-date outperformance and said ongoing investments will limit earnings flow through.
08:00 EDTWSMWilliams-Sonoma weakness creates buying opportunity, says SunTrust
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07:51 EDTWSMWilliams-Sonoma weakness creates buying opportunity, says Oppenheimer
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August 26, 2015
20:03 EDTWSMOn The Fly: After Hours Movers
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17:51 EDTWSMWilliams-Sonoma says has 'strong lineup' for 2H15
Says plans to launch three times the amount of new products in Q3 compared to the prior year period. Says expects to open four new locations in Q3. Says has made "good progress" across all brands in 1H15 and expects market share gains in 2H15. Comments from company's Q2 earnings conference call.
16:14 EDTWSMWilliams-Sonoma falls after earnings
The shares were last at $80 in the extended session following earnings, down over 3.5%. At that price next support is at $77.75. Resistance is at $81.
16:14 EDTWSMWilliams-Sonoma sees FY15 EPS $3.35-$3.45, consensus $3.48
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16:13 EDTWSMWilliams-Sonoma sees Q3 EPS 68c-73c, consensus 75c
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16:11 EDTWSMWilliams-Sonoma reports Q2 EPS 58c, consensus 58c
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15:00 EDTWSMNotable companies reporting after market close
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August 21, 2015
08:42 EDTWSMWilliams-Sonoma August weekly volatility elevated into Q2 and outlook
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