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Williams-Sonoma (WSM – 27.85) is a retailer of fine cookware and home furnishings. The company is the parent of Pottery Barn and Hold Everything, as well as its flagship Williams-Sonoma brand. Last night, the firm announced the resignation of its chairman and CEO and the subsequent appointment of others to fill these roles. This morning, the company was upgraded by Bank of America, which boosted its rating on the shares to a "strong buy" from a "market perform."
The equity is subsequently trading more than 11 percent in the black. This has carried the stock above the 27 level for the first time since early October. Still looming overhead, however, is the security's 10-month moving average, perched around the 28 mark. WSM has not managed a monthly close above this long-term trendline since September.