Williams-Sonoma Inc. (NYSE:WSM) and Nokia Corporation (NYSE:NOK) are among the headliners in Wednesday’s market stocks that have moved significantly higher from their opening prices, while three other companies – Express Inc. (NYSE:EXPR), Ferrellgas Partners, LP (NYSE:FGP) and Clearwire Corporation (NASDAQ:CLWR) are among those on the negative side of the ledger as the market day winds down.
Williams-Sonoma Inc. (NYSE:WSM), the high-end kitchenware retailer, is up nearly 12 percent to about $42.75 a share after topping expectations on its quarterly earnings report that was released after market hours Tuesday. Williams-Sonoma Inc. (NYSE:WSM) reported a quarterly EPS of 43 cents and revenue of $874 million, which both beat estimates by 2 cents and $10 million. Revenue is up 7 percent over a year ago, and e-commerce revenue for Williams-Sonoma Inc. (NYSE:WSM)is up nearly 14 percent while the company announced its first foray outside of the U.S. by opening stores in Australia.
Nokia Corporation (NYSE:NOK) is up more than 4 percent on the day to nearly $3 a share after the company got some positive press from Bloomberg News – one touting the company’s Asha success in emerging markets (which we posted here Tuesday) and a second story mentioning that Verizon Communications (NYSE:VZ) was intending to sell the Nokia Corporation (NYSE:NOK) Lumia handset installed with the Windows Phone operating system (as posted here earlier today).
Express Inc. (NYSE:EXPR) is down more than 11 percent on the day to $15 a share due to a disappointing earnings report and equally down earnings call Wednesday morning. While Express Inc. (NYSE:EXPR) reported quarterly EPS of 18 cents which beats estimates by 1 cent, but revenue of $455 million missed estimates by $12 million. After that report, Express Inc. (NYSE:EXPR) reported gross margin dropped to 32.2 percent but downgraded its EPS outlook to $1.69-$1.79 from previous guidance of $1.79-$1.89.
Ferrellgas Partners LP (NYSE:FGP) plummeted in the last couple hours, down 11 percent to $19.35 a share after an analyst downgraded the stock from “neutral” to “sell” due to valuation. The analyst noted that Ferrellgas Partners LP (NYSE:FGP) stock has risen 14 percent during the calendar year, while peer companies have shed 17 percent of value.
Clearwire Corporation (NASDAQ:CLWR) is down nearly 6 percent on the day to $1.70 after an analyst downgraded the company’s stock due to its spectrum valuation. Clearwire Corporation (NASDAQ:CLWR) has been taking a hit with the buildout of a 4G LTE network by Verizon Communications Inc. (NYSE:VZ), along with very few opportunities for the company to monetize its spectrum.