Shares of Cost Plus (NASDAQ:CPWM) increased 12.5% after releasing earnings late Thursday.The company reported Q4 EPS of $1.56, better than analyst estimates of $1.50 per share. Revenues for the quarter rose 6.7% year-over-year to $364.30 million, better than consensus estimates of $361.81 million.Cost Plus is currently above its 50-day moving average (MA) of $13.92 and above its 200-day of $9.72.
Shares of Steelcase (NYSE:SCS) fell 9% Friday morning after posting earnings late Thursday.In the fourth quarter, Steelcase reported EPS of $0.14, missing analyst estimates of $0.16 per share. Revenues for the quarter rose 10.8% year-over-year to $690.20 million, better than consensus estimates of $688.77 million.Steelcase (NYSE:SCS) has potential upside of 37% based on a current price of $9.03 and an average consensus analyst price target of $12.38.
Michael Kors (NASDAQ:KORS) announced today the pricing of its previously announced secondary offering. The 25 million ordinary shares will be priced at $47 per share making the total amount raised over $1 billion.The offering is expected to close on March 28th.Shares of KORS are currently trading 2.7% lower to $47.47.
We all know that the stock market has been rising for 3 years. Many economic measures — unemployment, consumer spending and confidence, etc. — also show strong improvement. Yet is that a good reason to stay bullish on stocks?
What a silly question, some people might say. But before you give a reply, please take a look at these financial news headlines — and then guess when they were published:
Did they publish this week? Last week? Last month? No. All published in mid-2007, right before the global financial crisis cut the DJIA by 54%; S&P 500 and CRB Commodities Index by 57%; oil by 78%. Gold, emerging markets, and real estate also fell hard. Even bonds were no “safe haven,” as 2009 was the worst year on record for U.S. 30-year Treasury bonds and 10-year T-notes: down 26% and 9.7%, respectively.
This chart shows you just how mistaken all that “strong fundamentals” optimism really was (courtesy: Bloomberg):
The lessons are obvious:
| Learn the Best Ways to Protect Your Capital with 8 Free Lessons from Conquer the Crash In every disaster, only a very few people prepare themselves beforehand. Financial analyst Robert Prechter warns that the doors to financial safety are closing all over the world. He believes prudent people need to act while they still can. This free 8-lesson report (42 pages) from Prechter’s bestseller, Conquer the Crash, gives valuable lessons that are critical to your financial survival, including:
Get Your FREE 8-Lesson Conquer the Crash Collection Now |
This article was syndicated by Elliott Wave International and was originally published under the headline Capital Safety: Is There Such a Thing as “TOO Safe”. EWI is the world’s largest market forecasting firm. Its staff of full-time analysts led by Chartered Market Technician Robert Prechter provides 24-hour-a-day market analysis to institutional and private investors around the world.
Hewlett Packard (NYSE:HPQ) continues to restructure today as they appoint a new senior vice president.The computer company has named Marc Levine as senior vice president and controller. Levine has been with H-P since 1988 and was most recently senior vice president of Finance for HP Enterprise Services.The appointment is most likely part of the new restructuring of the company. Eariler this week, Hewlett Packard’s announced a plan to combine its printer and PC divisions, with the head of the printer group V.J Joshi retiring and leaving the company. HP CEO Meg Whitman says the plan is meant to promote growth within the company.Hewlett-Packard (NYSE:HPQ) has potential upside of 33.4% based on a current price of $23.03 and an average consensus analyst price target of $30.72.
Live Interview with Romarco Minerals CEO
Wal-Mart (NYSE:WMT) announced it struck a deal with Rovio Entertainment that marks the firm’s first in-store promo that’s related to a mobile application.Clues for the game Angry Birds will be hidden in certain toys in over 3,000 stores beginning in late March.Wal-Mart Stores (NYSE:WMT) has potential upside of 6.5% based on a current price of $60.6 and an average consensus analyst price target of $64.56.
Baker Hughes (NYSE:BHI) said it sees Q1 operating profit before tax lower on North American Pressure pumping products as US rig activity shifts to oil, liquids-rich basins from natural gas, seasonality in all international markets.The company said it sees its North American Q1 operating margin before taxes at 13.2% – 14.2% vs. estimates of 18.7% quarter-over-quarter.The company sees Q1 international operating margin before tax of 12.2% – 13.2%, vs. 15.6% quarter-over-quarter and it sees adjusting 2012 capex, saw annual capex of $3.1 billion – $3.4 billion.
Here’s today’s Central Bank News link list, click through if you missed the previous central bank news link list. Remember, if you want to submit links for inclusion in the daily link list, just email them through to us or post them in the comments section below.
Research In Motion (NASDAQ:RIMM) lost its position as the top smartphone seller in its home nation Canada, according to a IDC report.The firm’s figures suggest the company shipped only 2.08 million Blackberrys during 2011, vs. 2.85 million Apple units sent out of the nation.Research In Motion (NASDAQ:RIMM) has potential upside of 11.7% based on a current price of $14.04 and an average consensus analyst price target of $15.68.
