NEW YORK ( TheStreet) -- If you're a Bed Bath & Beyond (BBBY - Get Report) investor, Wednesday's earnings release must have felt like squeezing the only shampoo bottle only to find nothing left while hurrying to prepare for a big job interview.Bed Bath & Beyond's stock plummeted more than 15% Thursday even as the company said earnings per share rose 24% to 89 cents per share. It was at least the fourth quarter in a row that Bed Bath & Beyond beat estimates. Unfortunately, expected earnings moving forward captured Wall Street's attention. Analysts' downward revisions for the next earnings report outnumber higher revisions 3 to 1. The stock price fell through strong support at the 200-day moving average of $63.50.
Making Money on Bed Bath & Beyond in a Wal-Mart World
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.