Bed Bath & Beyond stock soars more than 28%

Bed Bath & Beyond (BBBY.US) stock surged after company posted better than expected quarterly figures. The housewares retailer earned 50 cents per share, while analysts' expected 23 cents per share loss. Revenue also beat market estimates. Company reported 6% increase of comparable-store sales, compared with expectations of a 2.1% decline. Online sales helped drive the gains, with digital comparable sales surging roughly 89%. Company did not provide a full-year guidance but said same-store sales for September trended positive, with similar store and digital sales patterns compared with the second quarter.

Bed Bath & Beyond (BBBY.US) stock launched today’s session with a bullish price gap and rally. Currently price is testing the 200 SMA (red line). If buyers manage to break above it, an upward impulse towards $24.18 could be launched. On the other hand, if sellers regain control, then support at $16.50 may be at risk. Source: xStation5

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