Start the conversation
While the majority of companies have already posted results, a number of key sector players report Wednesday, including a handful of major retailers, a leading luxury jeweler, a spirits giant, the world's largest offshore driller, and more.
Hot Stocks to Watch for Wednesday
Stocks to Watch No. 1: Tiffany & Co. (NYSE: TIF) tops today's hot stocks to watch list. The luxury jeweler is expected to post earnings per share (EPS) of $0.85, up from $0.83 in the same quarter a year ago, when it reports Q2 results before the open. Whisper numbers are for EPS of $0.86. Investment bank Nomura sees a 7% rise in same-store sales and continued improvement in its fashion jewelry line. Tiffany's has been a bright spot in an otherwise dismal first half of the year for retailers. The high-end jeweler posted EPS of $0.97 in Q1, trouncing consensus estimates of $0.77. Sales jumped 13% year over year, and the company provided upbeat full-year guidance. Last week, Sterne Agee reiterated its "Buy" rating on TIF and upped its price target to $108. TIF shares are up 8% year to date.
Stocks to Watch No. 2: William Sonoma Inc. (NYSE: WSM) reports Q2 results after Wednesday's closing bell. Forecasts have the specialty retailer of home products reporting EPS of $0.53, up from $0.49 in the same quarter a year ago. Whisper numbers are for EPS of $0.56. Last week, Citigroup named WSM its top retailer for the back-to-school season. The distinction centers on the retailer's Pottery Barn unit, which Citi sees as well-positioned to drive revenue as parents shop for back-to-school furnishings for their children. The average analyst recommendation on WSM is "Overweight." Shares are up 28.84% since the start of the year.