MidnightTrader Earnings Play: Bed Bath & Beyond

Bed Bath & Beyond
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is set to report its Q2 results this evening, and Wall Street analysts are forecasting a mean quarterly profit of $0.46 per share on revenue of $1.86 billion, according to Thomson Reuters.

BBBY is evenly split between wider and narrower next-day share moves following evening earnings releases over the past 18 quarters we’ve tracked. In the near-term, the stock clearly favors narrowing, however, cutting back or reversing its evening performance in next-day trade in the last six quarters.

Here’s a look at the near-term performance.

On June 25, 2008, the stock jumped 8.5% in post-bell trading after BBBY beat with Q1 results. The gain was nearly halved the next day, to 4.2%.

On April 9, 2008, the stock fell 5.6% during evening trading after BBBY just beats with Q4 EPS though revenue shy. Shares rebounded to end up a slim 0.6% the next day.

On Jan, 3, 2008, BBBY fell 6.2% during evening trading after the company reported results above the year-ago period but guided in a range that appeared to be below the Street mean, although direct comparison wasn’t clear. The share loss was trimmed to 4.4% the next day.

On Sept. 26, 2007, BBBY advanced 1.5% in after-hours trade after beating Q2 sales expectations and approving a $1 billion stock buyback. It saw its upside evaporate the next day, closing the Sept. 27 regular session down 1.1%.

On June 27, 2007, BBBY dropped 5.2% in after hours despite the company’s topping Q1 estimates. Shares managed to claw back some of those losses but still ended the next day session down 3.9%.

On April 11, 2007, BBBY lost 2% in night trade despite topping Q4 expectations. Shares recovered slightly the next day, ending the regular session down 1.8%.

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