MidnightTrader’s Earnings Play: Buffalo Wild Wings
Buffalo Wild Wings
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BWLD |
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PowerRating) is due out with Q1 results after the bell tonight, and analysts polled by Thomson Financial are expecting a profit of $0.36 per share on revenue of $97 million.
The stock is one to watch as its extended-hours earnings news typically draws decent volume. In the last three years, BWLD has shown a strong tendency to widen its after-hours move the next day following an evening earnings event. It has done so eight out of nine times.
On Feb. 12, 2008, BWLD jumped 10.8% in after-hours trade after beating Q4 earnings expectations and issuing largely upbeat guidance for 2008. The stock firmed higher the following day, gaining 12.1% by the Feb. 13 closing bell.
On Oct. 30, 2007, BWLD tumbled 13.1% in evening trade after reporting Q3 earnings shy of expectations. It continued heading lower into the Oct. 31 regular session, losing 21.2% by the closing bell.
On July 31, 2007, BWLD slid 11.5% in night trade after missing Q2 sales estimates and meeting on EPS. Shares fell further the next day, ending down 16.9% in the regular session.
On May 1, 2007, BWLD gained 5.3% in after hours when the company beat Q1 expectations. Shares soared the following day, closing the regular session up 14.4%.
On Feb. 15, 2007, BWLD rallied 8.9% in night trade after topping Q4 sales estimates. Shares rose a bit further the next day, ending the regular session up 9.6%.
Brooks McFeely is widely regarded as the leading expert on extended-hours trading. He is a Managing Partner for Brochet Capital Partners, LP and the founder of Midnight Trader, Inc. (www.midnighttrader.com), the leading provider of pre-market and after-hours trading analysis and news to retail and institutional investors.