Yahoo Finance's Ines Ferre checks out markets closing this week in the green, the bond market action, the consumer discretionary sector, semiconductor stocks, and crude oil pricing.
Its revenue plunged 25% year over year to $1.46 billion, which missed analysts' expectations by $50 million, as its comparable-store sales tumbled 23%. Its net loss widened from $51 million to $358 million on a GAAP (generally accepted accounting principles) basis. On a non-GAAP basis, it posted a net loss of $225 million, compared to a net profit of $5 million a year earlier, and its net loss of $2.83 per share broadly missed analysts' estimates by $1.44.
Bed Bath & Beyond is in a precarious financial position, warns BofA.