RH Shorting today. Currently +4.59% @ 71.61, 636K
Fine Earnings report- up 28% today in a week. Looking for pullback.
Plenty of shares to short.
Market Chatter: Restoration Hardware Spikes 17%, Hits Year High, on Earnings Beat, Positive CNBC Report
BY Midnight Trader — 11:24 AM ET 06/14/2013
Restoration Hardware (RH) is now up almost 17%, slightly shy of a 52-week high of $70.16 hit earlier, after reporting Q1 results late Thursday that came in twice as high as consensus forecasts, prompting positive comments from CNBC's Jim Cramer.
The stock hit an after hours high of $66.50.
"This is really a remarkable company," Cramer said. "This is a company that has momentum like I wouldn't believe. Frankly, this is the best momentum of any retailer there is."
Restoration Hardware (RH) reported Q1 earnings of $0.06 per share, ex one-time items, versus the Capital IQ consensus of $0.03. Revenues were $301.3 million, versus the analyst estimate of $298.93 million. Comparable store sales increased 41% on top of 26% growth for the same period last year.
The company expects Q2 EPS of $0.40 - $0.42 on revenues of $375 million - $380 million. The consensus is EPS of $0.38 on revenues of $350.86 million.
RH Did anyone climb on this short? Was a picnic.
My last short EOD yesterday was at $71.94
My best cover this morning was 68.10
Nice to have a good day.
Getting clobbered on the board of yahoos for reporting that of the four pharmacies I visited this weekend, no pharmacist reported a sale of Belviq (ARNA)- a week from a much anticipated launch. Not too much should be read into this ho hum start- it's just the fist few minutes of the first quarter, employing a Heat-Spurs analogy. The anticipation was likely more on the part of shareholders than the selling company which has a methodical roll out planned.
Going to check 2-3 more pharmacies in a different area later this afternoon. Hope I get something good to report- there's a bunch of super dedicated longs who are presently having their guts ripped out.
I stopped building a position and stepped out yesterday based on my small survey. Watching to get back in.
And if I don't find a filled script, I'm checking my life insurance before reporting that, lol.
Thought a lot about what you said and ended up getting out of RH to lock in profits. But I wasn't able to short it. Thinking of getting back in when it hits mid-60s depending on how this taper news plays out. ... I might be able to get in lower.
Good luck! I thought about shorting, but I think I'm staying in for awhile. It is up a lot and likely will pull back but my guess is not by much. I usually pop in and out, but this time I'm staying for awhile given its impressive report.
Could be a last bit more momo but if the futures are negative tomorrow, I'd suggest taking profits in Pre-Market.
This was broad stock market and Cramer followers today.
The company numbers don't support a 28% run up in a week- to start with, they are not profitable yet.