Markets Record Streak Continues: Today’s Research Reports on Stocks to Watch 8×8 and RH

NEW YORK, NY / ACCESSWIRE / February 27, 2017 /
The Dow Jones Industrial Average continued its streak of 11 consecutive record closes with a late-day rally Friday. The Dow fell by as much as 76 points, before settling to close at 20,821.76, up 0.05 percent, or 11.44 points. The S&P 500 Index gained 0.15 percent to close at 2,367.34, while the NASDAQ Composite Index gained 0.17 percent to close at 5,845.31. High yielding dividend stocks were amongst the top benefactors Friday as falling yields on government bonds sent investors flocking to stocks with high paying dividends. The S&P 500 is currently trading at price to forward earnings ratio of close to 17.8 as compared 25-year historic average of nearly 15, according to Reuters.

On Friday, the yield on the 10-year Treasury note dropped to 2.31 percent. In comparison, the S&P 500 Utilities sector spiked 4.3 percent for the week ended February 24th, its largest weekly gain since the week ended July 1st, 2016. The Utilities sector currently has a dividend yield of approximately 3.5 percent, according to FactSet.

“There was concern that the market was getting tired and that we were losing momentum, but there are still significant inflows, because now even the pessimists want a piece of the action. It’s momentum driven, not fundamentally driven,” said Lawrence Glazer, Managing Partner at Mayflower Advisors.

Let’s Take a
Closer Look at Today’s Trending Tickers

8×8’s shares spiked 9.86 percent to close at $16.15 a share on Friday. The stock traded between $14.50 and $16.80 on volume of 1.82 million shares traded. Reuters has recently reported that 8×8 is currently exploring a potential sale of the company, citing people familiar with the matter. Shares of 8×8 have gained approximately 12.9 percent year-to-date.

The company reported a GAAP net loss was ($1.3 million), or ($0.01) per diluted share, for the third quarter of fiscal 2017. Total revenues were $63.7 million for the third quarter of fiscal 2017, an increase of 20 percent year-over-year. Service revenues spiked 23 percent year-over-year to $60.1 million in the fiscal third quarter 2017. The company has maintained its annual guidance of revenue for fiscal 2017 in the range of $251.0 million to $254.0 million and raised non-GAAP net income guidance to a range of $18.0 to $20.0 million. To date, the company holds 128 patents in its name.

Access Today’s 8×8 Research Report Click
Here

Restoration Hardware’s shares surged 24.41 percent to close at $31.34 a share on Friday. The stock traded between $28.60 and $33.00 on volume 14.83 million shares traded. The company expects to report adjusted net revenues of $590 million for the fourth quarter of 2016, which is in the upper range of its previous guidance range of $562 million to $592 million and above analysts’ expectations of $584.7 million. Adjusted earnings per share are expected to be $0.68 for the fourth quarter, which is also above analysts’ estimates of $0.65 per share. Shares of RH have gained approximately 2.08 percent year-to-date.

“As we exit fiscal 2016, we are now through the most uncertain stage of our transformation. As previously communicated, we have made several strategic investments and changes to our business model in fiscal 2016 that temporarily depressed financial results in the short term, and that we believe will strengthen our brand and position the business for accelerated growth in 2017 and beyond,” commented Gary Friedman, Chairman and CEO.

Access Today’s RH Research Report Click
Here

Today’s Features Includes:

8×8, Inc. (NASDAQ: EGHT)

Restoration Hardware (NYSE: RH)

Research Driven Investing

We are committed to providing relevant and actionable information for the self-directed investor. Our research is reputed for being a leader in trusted, in-depth analysis vital for informed strategic trading decisions. The nimble investor can leverage our analysis and collective expertise to execute a disciplined approach to stock selection.

RDInvesting has not been compensated; directly or indirectly; for producing or publishing this document.

Disclaimer: This article is written by an independent contributor of RDInvesting.com and reviewed by Hemal K. Gandhi, a CFA® charter holder. RDInvesting.com is neither a registered broker dealer nor a registered investment advisor. For more information, please read our full disclaimer at www.rdinvesting.com/disclaimer.

CONTACT

For any questions, inquiries, or comments reach out to us directly at:

Address:

Research Driven Investing, Unit #901 511 Avenue of the Americas, New York, NY, 10011

Email:

contact@rdinvesting.com

CFA® and Chartered Financial Analyst® are registered trademarks owned by CFA Institute.

SOURCE: RDInvesting.com

ReleaseID: 456024

Go Top