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Bed Bath & Beyond, Inc. (NASDAQ:BBBY): Wells Fargo suggests purchasing Pier 1 (NYSE:PIR) on any weakness due to Bed Bath & Beyond’s report of lower than planned Q1 sales. Wells Fargo believes Pier 1 is safer from competition from Amazon.com (NASDAQ:AMZN) due to its merchandise being entirely private label.
Celgene Corporation (NASDAQ:CELG): RBC thinks Celgene shares may drop to the mid-$50s following the company’s announcement that it will withdraw Revlimid’s front line and maintenance applications from Europe. RBC believes 2013-2015 Revlimid consensus estimates will need to fall by a minimum of a few hundred million, and that some investors worry whether the company will require an acquisition to meet its guidance. RBC repeats a Sector Perform rating for Celgene.
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