7:48 a.m. Jan. 14, 2021
- By Michael Ashbaugh
Charting a slow-motion breakout attempt: Nasdaq, Dow industrials press record highs Focus: Homebuilders break out even amid rising interest rates, XHB, ZBRA, KSS, WSM, JNPR, FATEU.S. stocks are higher early Thursday, rising amid renewed optimism over fiscal-stimulus prospects. Against this backdrop, each big three U.S. benchmark has challenged its prevailing range top — levels defining record highs — amid a slow-motion breakout attempt.
9:21 a.m. Sept. 4, 2020
- By Tomi Kilgore
Wayfair's stock sinks after Merrill Lynch downgrades, citing expected 'deceleration' in salesShares of Wayfair Inc. sank 8.0% in afternoon trading Friday, after BofA Securities analyst Justin Post downgraded the home furnishings online retailer, citing evidence of a deceleration in sales trends. The stock, which has pared earlier intraday loss of a much as 14.9%, has still shed 25.9% since closing at a record $342.40 on Aug. 26. Post cut his rating to neutral, after being at buy since April 7. He kept his stock price target at $330, which is 30.1% above current levels. "Expectations and valuation are high vs. history, and we expect revenue deceleration ahead, which has been a historical valuation headwind for the stock," Post wrote in a note to clients. "We think [quarter-to-date] stock appreciation has been fueled by expectations for upside, but given recent data points, we see less upside to Street estimates for 58% growth in 3Q." The stock has gained 28.4% so far this quarter, compared with a 20.5% rise in the Amplify Online Retail ETF over the same time and the S&P 500's 9.4% advance.
6:26 a.m. Aug. 29, 2020
- By Philip van Doorn
These ‘Dividend Aristocrat’ stocks have been raising their dividends for decades, and there have been no dividend cuts during the pandemic Dozens of other S&P 500 companies, in contrast, have reduced their payoutsDozens of other S&P 500 companies, in contrast, have reduced their payouts.
3:38 a.m. Aug. 5, 2020
- By Tomi Kilgore
Wayfair's stock surges toward a record after swinging to big profit beat, as orders delivered more than doubledShares of Wayfair Inc. shot up 3.0% toward a record high in premarket trading Wednesday, after the online seller of home furnishings and housewares swung to a big profit beat in the second quarter, as orders delivered more than doubled. Net income was $273.9 million, or $2.54 a share, after a loss of $181.9 million, or $!.98 a share, in the year-ago period. Excluding non-recurring items, Wayfair swung to adjusted earnings per share of $3.13 from a per-share loss of $1.35, well above the FactSet consensus for EPS of 97 cents. Revenue soared 83.7% to $4.30 billion, beating the FactSet consensus of $4.07 billion. Orders delivered increased 106.2% to 18.9 million, while the average order value declined to $227 from $255. The number of active customers in the Direct Retail business grew 46.0% to 26.0 million. "We experienced unprecedented demand in Q2 and saw record numbers of new and repeat customers choose Wayfair," said Chief Executive Niraj Shah. The stock has more than tripled (up 221.8%) year to date through Tuesday, while the S&P 500 has gained 2.3%.
8:33 a.m. July 10, 2020
- By Ellis Henican
While politicians squabble, New York schools make their own plans Not waiting around for Washington, Albany or City Hall to decideParents, teachers and local officials are tuning out the divisive rhetoric and tackling thousands of crucial details.
8:57 a.m. May 7, 2020
- By Tonya Garcia
Wayfair stock is soaring, but analyst says growth will ‘hit a wall’ Wayfair shares, which were up 9% on Wednesday, have skyrocketed 131% over the past monthWayfair shares have jumped but GlobalData Retail says the numbers show that growth will decelerate.