|Bid||82.83 x 800|
|Ask||82.87 x 900|
|Day's Range||81.83 - 83.18|
|52 Week Range||52.85 - 85.66|
|PE Ratio (TTM)||23.39|
|Forward Dividend & Yield||0.90 (1.12%)|
|1y Target Est||N/A|
Yahoo Finance's Alexis Christoforous and Jared Blikre break down the latest market action after Best Buy reported first quarter earnings that beat Wall Street expectations, as well as topping analyst estimates of enterprise comparable sales. However, the retailer delivered soft EPS guidance for the second quarter.
Yahoo Finance's Alexis Christoforous and Jared Blikre break down the latest market action after the department store retailer announced first quarter earnings that beat on net income and revenue, as well as topping Wall Street estimates for comparable sales. UPDATE: Traders initially bought the news, but sold the stock after the CFO said on the earnings call that the second quarter faces "headwinds."
Retail earnings will continue on Thursday with Best Buy and The Gap reporting results as volumes remain light ahead of the holiday weekend in the U.S.
After the closing bell, look for Ross Stores earnings. The off-price apparel chain will add its quarterly report to the slew of retailers disclosing earnings this week.
TJX Companies (TJX) stock rose 3.2% on May 22, the day the company announced its results for the first quarter of fiscal 2019. Then the stock rose 0.5% on May 23. TJX reported strong sales growth of 11.6% in the first quarter.
The stock is trading between my semiannual pivot of $78.79 and my annual risky level of $85.13, which was tested at the Jan. 29 high. The stock is in recovery mode at 12% above its March 7 low of $73.76. Analysts expect Ross Stores to post quarterly earnings per share of $1.06 when it reports results on Thursday.
Ross Stores (ROST) saw its stock price pop marginally on Wednesday as part of a month-long climb that has seen shares of the off-price clothing retailer surge nearly 6%. Now, let's see if Ross' run looks poised to continue by taking a quick look at its first-quarter earnings outlook.
Gap (GPS) will report earnings on Thursday, and MKM Partners' Roxanne Meyer thinks that the retailer may have escaped the worst of what's plagued its peers--but she still prefers off-price retailers. Meyer writes that weather has been an issue for plenty of retailers, but for others it's "an afterthought," and while a prolonged cold winter, combined with an early Easter is a "bad cocktail," she believes that retailers that innovated will further pull ahead, separating the have and have-nots.
Big-box retailer Target missed first-quarter earnings estimates Wednesday as the slow start to spring weather weighed on some sales.
Shares of Target, Ross Stores, RH, Kohl's and Amazon are nearing entry points Monday, so keep an eye on these retail stocks as they approach or hover around buy territory.