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.
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