Why Is Home Furnishing Retailer Williams-Sonoma Stock Surging Today?

Williams-Sonoma, Inc (NYSE:WSM) shares are trading higher after the company reported first-quarter FY24 earnings above street view. The company reported a first-quarter FY24 sales decline of 5% year-on-year to $1.66 billion, meeting the analyst consensus estimate. Comparable brand revenue for the quarter declined 4.9%. Adjusted EPS of $4.07 beat the analyst consensus estimate of $2.70. Gross margin expanded 980 basis […]

Oil eases on worries about US inflation, interest rates

By Scott DiSavino NEW YORK (Reuters) -Oil prices eased less than 1% on Monday as U.S. Federal Reserve officials said they were awaiting more signs that inflation was declining before the central bank starts cutting interest rates. Two top Fed officials said they’re not yet ready to say inflation trends are again moving sustainably back […]

Walmart’s strong forecast sparks stock surge to record high

By Ananya Mariam Rajesh and Siddharth Cavale (Reuters) -Walmart raised its full-year forecast and reported better-than-expected quarterly results on Thursday, betting that easing inflation will drive stronger sales of groceries and non-essential merchandise like clothing and electronics, sending its shares to a record high in their biggest one-day gain in four years. Some U.S. retailers […]

Chevron Tops Tesla as Most-Shorted Stock in April, Says Hazeltree

(Corrects paragraph 5 to say Chevron beat not missed expectations; adds Chevron decline to comment in paragraph 4) By Nell Mackenzie LONDON (Reuters) – Oil company Chevron was the most shorted U.S. stock in April, overtaking long-standing top target Tesla as short-sellers up their bets on weaker energy prices, according to a monthly report by […]

Global Equity Funds Attract Big Inflows as Rate Cut Bets Rise

(Reuters) – Demand for global equity funds rose sharply in the seven days to May 8, driven by renewed bets on Federal Reserve interest rate cuts after a softer than anticipated U.S. employment report. Investors bought a net $12.72 billion worth of global equity funds during the week, the largest weekly net purchase since March […]

Bitcoin Facing These ‘Compelling Mid-Term Bearish Cases,’ Warns Trader

While maintaining a bullish stance on Bitcoin’s (CRYPTO: BTC) long-term prospects, crypto trader Altcoin Sherpa has shared his thoughts on some compelling mid-term bearish cases. What Happened: Sherpa points out several factors suggesting a potentially bearish scenario for Bitcoin in the mid-term. Presence of a rounded top formation in the price action, typically associated with […]

Apple unveils new AI-focused chip in upgraded iPad Pro

By Stephen Nellis (Reuters) -Apple unveiled its latest iPad Pro on Tuesday with a new chip for artificial intelligence computing as it rushes to catch up with its Big Tech rivals in a race to dominate the emerging technology. Debuting its latest chip in a tablet rather than its Mac laptops is unusual for Apple, […]

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    Why Is Home Furnishing Retailer Williams-Sonoma Stock Surging Today?

    May 22, 2024

    Williams-Sonoma, Inc (NYSE:WSM) shares are trading higher after the company reported first-quarter FY24 earnings above street view. The company reported a first-quarter FY24 sales decline of 5% year-on-year to $1.66 billion, meeting the analyst consensus estimate. Comparable brand revenue for the quarter declined 4.9%. Adjusted EPS of $4.07 beat the analyst consensus estimate of $2.70. Gross margin expanded 980 basis […]
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