Jefferies Raises price Target on Pier 1 Imports (PIR) Following 2Q Report

Pier 1 Imports (PIR): Margin Recovery Overshadowed By Weak Comps - Guggenheim

Guggenheim analyst, Steven Forbes, reiterated his Neutral rating on shares of Pier 1 Imports (NYSE: PIR) as the 2Q merchandise margin recovery was overshadowed by weak comps. the analyst is remaining cautious on PIRs secular prospects due to its sub-optimal real estate... More

BTIG Keeps 'Sell' Rating on Pier 1 Imports (PIR); Says Activist Investor Doesn't Change Fundamental Issues

BTIG affirms Pier 1 Imports (NYSE: PIR) at Sell with a price target of $3.50 following Q2 results issued Wednesday night.

The firm commented today: We remain below guidance and the Street for 3Q16 and the all-important fourth quarter. PIR expects adj. 3Q EPS of... More

After-Hours Stock Movers 09/28: (AEGR) (PIR) (GSAT) Higher; (ITCI) (ATNM) (PRGS) Lower (more...)

Today's After-Hours Movers

Intra-Cellular Therapies, Inc. (Nasdaq: ITCI) 66.2% LOWER; announced top-line results from the second Phase 3 clinical trial (Study 302) of ITI-007, an oral, first-in-class investigational medicine for the treatment of schizophrenia. In this trial, neither dose of ITI-007 separated from placebo on the primary endpoint, change from baseline on the Positive and Negative Syndrome Scale (PANSS) total score, in the pre-defined patient population. The active control, risperidone, did separate from placebo. In this trial, ITI-007 was statistically significantly better than risperidone on key safety and tolerability parameters and... More

Pier 1 Imports (PIR) Declares $0.07 Quarterly Dividend; 6.6% Yield

Pier 1 Imports (NYSE: PIR) declared a quarterly dividend of $0.07 per share, or $0.28 annualized.

The dividend will be payable on November 2, 2016, to stockholders of record on October 19, 2016, with an ex-dividend date of October 17, 2016.

The annual yield on the dividend is 6.6 percent.

For... More

Pier 1 Imports (PIR) Reports In-Line Q2 EPS; Comps Fall 4.3%

Pier 1 Imports (NYSE: PIR) reported Q2 EPS of ($0.05), in-line with the analyst estimate of ($0.05). Revenue for the quarter came in at $405.8 million versus the consensus estimate of $406.96 million.

Company comparable sales for the quarter decreased 4.3%.

GUIDANCE:

Pier 1 Imports sees Q3 2017 EPS of $0.09-$0.15, versus the consensus of $0.12.

Pier 1 Imports sees Q4 2017 EPS of $0.24-$0.32.

lex W. Smith,... More

Alden 'Disappointed' in Pier 1 Imports' (PIR) Adoption of 10% Poison Pill

Alden Global Capital LLC , the largest active shareholder of Pier 1 Imports, Inc. (NYSE: PIR), with ownership of approximately 9.5% of Pier 1's outstanding shares, issued a statement today in response to Pier 1's post-market announcement on September 27, 2016 that it has adopted a "poison pill" rights plan (the "Poison Pill") with a 10% ownership limitation. Alden is severely disappointed that Pier 1 has resorted to this highly questionable form of entrenchment rather than engage constructively with one of its largest shareholders.

Heath Freeman, President of Alden, stated, "We were incredibly surprised and disappointed to learn... More

Pier 1 Imports (PIR) volatility increases is into Q2 and outlook

Pier 1 Imports (NYSE: PIR) October call option implied volatility is at 69, November is at 76; compared to its 52-week range 42 to 97 into the expected release of Q2 results today after the market close.

Pre-Open Stock Movers 09/28: (SEED) (AVXL) (ATHX) Higher; (GALT) (TPX) (SONC) Lower (more...)

Today's Pre-Open Stock Movers

Galectin Therapeutics Inc. (NASDAQ: GALT) 48% LOWER; announced topline results from NASH-FX, its Phase 2a clinical trial evaluating the efficacy, safety, and tolerability of GR-MD-02 in 30 nonalcoholic steatohepatitis (NASH) patients with advanced fibrosis. This exploratory, single site, short-treatment (four months of therapy), randomized study did not meet its primary biomarker endpoint as measured by LiverMultiScan (LMS, Perspectum Diagnostics), a magnetic resonance imaging test that evaluates inflammation and fibrosis. The trial also did not meet secondary endpoints that measure liver stiffness as a surrogate for fibrosis,... More

Pier 1 Imports (PIR): Detail On The New Shareholders Rights Plan - Wedbush

Wedbush analyst, Seth Bashm, reiterated his Outperform rating on shares of Pier 1 Imports (NYSE: PIR) following the companys Board announcing last night the implementation of a short-term Shareholder Rights Protection Agreement (i.e., poison pill). PIR wants to guard against coercive or unfair tactics to gain control of the company without paying all shareholders an appropriate premium. This comes in response to last weeks disclosure by activist shareholder Alden Capital of a 9.5% stake in PIR,

The agreement and its details have not... More

After-Hours Stock Movers 09/27: (SEED) (GALE) (CTAS) Higher; (GALT) (TPX) (NKE) Lower (more...)

Today's After-Hours Movers

Origin Agritech Limited (NASDAQ: SEED) 32.6% HIGHER; announced the company has entered into a definitive agreement to sell its proprietary China-based commercial corn seed production and distribution business for RMB 400 million (approximately USD $60 million) to Beijing Shihui Agricultural Development Co, Ltd.

Galectin Therapeutics Inc. (NASDAQ: GALT) 40% LOWER; announced topline results from NASH-FX, its Phase 2a clinical trial evaluating the efficacy, safety, and tolerability of GR-MD-02 in 30 nonalcoholic steatohepatitis (NASH) patients with advanced fibrosis. This exploratory, single site,... More

Pier 1 Imports (PIR) Adopts 'Poison Pill' Provision

Pier 1 Imports, Inc. (NYSE: PIR) announced today that its Board of Directors has adopted a Shareholder Rights Protection Agreement ("Rights Agreement") effective September 27, 2016, and declared a dividend of one right (a Right) on each outstanding share of the Company's common stock, payable to holders of record as of the close of business on October 7, 2016.

Terry E. London, Chairman, stated, The board feels it is important to ensure that all shareholders have the opportunity to realize the long-term value of the iconic Pier 1 Imports brand, and to guard against coercive or unfair tactics to gain... More