Earnings, Sales, Guidance All Beat
Restoration Hardware reported first-quarter profit of $0.06 a share on sales of $301 million. Analysts had only expected $0.04 and $299 million, respectively. Guidance was also well above consensus, and RH is up 12 percent before the opening bell on my tradeMONSTER platform.
Groupon Upgraded by Deutsche Bank
Groupon was upgraded to "buy" from "hold" at Deutsche Bank, which said the stock could double from here. GRPN rose 7.5 percent in early trading.
Smith & Wesson Preannounces Strong Numbers
Smith & Wesson preannounced strong results for the fourth quarter ended April 30. Profit was about $0.44 a share, better than the $0.40 forecast by analysts. Revenue of $179 million also beat the $171 million average estimate, and management announced a $100 million stock buyback. SWHC rallied 5 percent in the premarket.
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