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MarketScreener Homepage  >  Equities  >  Nasdaq  >  Bed Bath & Beyond Inc.    BBBY

BED BATH & BEYOND INC.

(BBBY)
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Wall Street ends choppy session higher as stimulus hopes ebb and flow

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10/01/2020 | 04:01pm EDT

(For a live blog on the U.S. stock market, click or type LIVE/ in a news window.)

NEW YORK, Oct 1 (Reuters) - Wall Street closed higher at the end of a whipsaw session on Thursday as investors juggled hopeful and pessimistic news on the progress of stimulus talks Washington amid signs of waning momentum of economic recovery from the pandemic recession, now entering its ninth month.

All three major U.S. stock indexes closed higher, with the Nasdaq in the lead and the Dow seeing the smallest gain.

A spate of data, including jobless claims and consumer spending, suggested that the plodding economic recovery could be losing steam.

Investors now look to the Labor Department's employment report expected Friday to further gauge the economy's progress.

In negotiations for a new pandemic relief deal, the White House countered House Democrats' $2.2 trillion package with a $1.5 trillion-plus proposal.

But an imminent deal seemed elusive after U.S. House Speaker Nancy Pelosi cautioned that Democrats and the White House remained locked in a debate over dollars an values.

"It's all about fiscal stimulus and the ball is in Congress' court," said Ryan Detrick, senior market strategist at LPL Financial in Charlotte, North Carolina. "We continue to believe they're inching closer and approaching the final inning, but the last stretch is often the hardest."

"We believe we'll have a deal before the election and both sides will claim victory," Detrick added.

The S&P 500 and the Nasdaq again got their most support from large cap tech and tech-adjacent market leaders.

"With the disappointment out of Washington we see this move back to the safety trade of big tech," Detrick said. "Today is a microcosm of last six months."

Unofficially, the Dow Jones Industrial Average rose 47.93 points, or 0.17%, to 27,829.63, the S&P 500 gained 18.76 points, or 0.56%, to 3,381.76 and the Nasdaq Composite added 160.84 points, or 1.44%, to 11,328.35.

With the books closed on the third quarter, market participants await earnings season, set to get underway in about two weeks.

Analysts currently see S&P 500 earnings, in aggregate, falling by 21.4% year-on-year according to Refinitiv.

Exxon Mobil Corp dropped after it signaled a bigger-than-expected third quarter loss due to falling oil prices and plunging demand.

Shares for retailer Bed Bath & Beyond Inc soared after posting a surprise quarterly profit due to its booming online business.

Boeing Co rose after Federal Aviation Administration Chief Steve Dickson remarked "I liked what I saw" following Wednesday's 737 MAX test flight. (Reporting by Stephen Culp; Editing by David Gregorio)


Stocks mentioned in the article
ChangeLast1st jan.
BED BATH & BEYOND INC. -2.20% 24.44 Delayed Quote.41.27%
DJ INDUSTRIAL -0.35% 28210.82 Delayed Quote.-1.15%
EXXON MOBIL CORPORATION -1.60% 33.16 Delayed Quote.-52.48%
NASDAQ 100 -0.11% 11665.365595 Delayed Quote.33.22%
NASDAQ COMP. -0.28% 11484.694182 Delayed Quote.28.35%
S&P 500 -0.22% 3435.56 Delayed Quote.6.57%
THE BOEING COMPANY -2.02% 163.86 Delayed Quote.-49.70%
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Financials (USD)
Sales 2021 9 802 M - -
Net income 2021 17,0 M - -
Net cash 2021 377 M - -
P/E ratio 2021 179x
Yield 2021 0,91%
Capitalization 3 042 M 3 042 M -
EV / Sales 2021 0,27x
EV / Sales 2022 0,26x
Nbr of Employees 55 000
Free-Float 34,5%
Chart BED BATH & BEYOND INC.
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Bed Bath & Beyond Inc. Technical Analysis Chart | MarketScreener
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Technical analysis trends BED BATH & BEYOND INC.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus HOLD
Number of Analysts 20
Average target price 21,07 $
Last Close Price 24,44 $
Spread / Highest target 35,0%
Spread / Average Target -13,8%
Spread / Lowest Target -75,5%
EPS Revisions
Managers
NameTitle
Mark J. Tritton President, Chief Executive Officer & Director
Harriet Edelman Independent Chairman
John R. Hartmann Chief Operating Officer & Executive Vice President
Gustavo Arnal Chief Financial Officer, Treasurer & Executive VP
Scott Lindblom Chief Technology Officer
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