Will These 4 Stocks Rally On Wednesday?
The markets took a beating on Tuesday. After the Nikkei (NYSE:EWJ) fell over 10%, the Dow (NYSE:DIA) and the S&P 500 (NYSE:SPY) hit a fresh 6 week low. However the Nikkei rebounded over 5% last night. Will these stocks participate in a rebound on Wednesday as well?
These 4 companies reported earnings on Tuesday. Should you trade these stocks on Wednesday?
1) Williams-Sonoma Inc. (NYSE:WSM): When everything else seemed to head lower on Tuesday, shares of this speciality home product retailer headed 12.58% higher. Fourth quarter earnings of $1.08 per share beat analysts estimates by 2 cents per share. Sales also rose 9.7% for the fourth quarter to $1.2 billion.
2) Pacific Sunwear of California (NASDAQ:PSUN): There is a lack of sunshine in this clothing retailer as the company reported fourth quarter results after the bell. The company reported an adjusted loss of 33 cents per share. Revenue fell in the quarter to $263 million, compared to $292 million in the same period last year. Shares are down 8.35% in late trading.
3) Resolute Energy Corp (NYSE:REN): The company reported a net loss of $10.5 million (21 cents per share) for the fourth quarter. This was an improvement from last year’s net loss of $21.6 million (43 cents per share). Looking forward, CEO Nicholas Sutton said, “In the first quarter of 2010 we successfully entered the Bakken oil trend in North Dakota, where we now have three wells completed and two wells waiting on completion. We expect that our activity in this area will accelerate in 2011 and we expect to exit the year with this area adding to both our production and to our reserves.”
4) rue21, inc (NASDAQ:RUE): Shares were flat after the company reported fourth quarter earnings. EPS of 44 cents narrowly beat estimates by 1 cent. Revenues rose 22.3% from last year to $190.1 million. For 2011, the company expects Q1 EPS to come in at 27-29 cents. This is inline with analysts estimates of 29 cents per share. Rue21, Inc. is a teen specialty retailer that sells youth and junior-sized clothing for guys and girls through mostly mall-based stores in multiple states.
Disclosure: No positions