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Stock Market & Financial Investment News

News Breaks
April 15, 2014
11:41 EDTHGG, BBY, RSHElectronics retailers sink after hhgregg lowers outlook
Shares of electronics retailers Best Buy (BBY) and RadioShack (RSH) are sinking after another company in the sector, hhgregg (HGG), preannounced weaker than expected results and said that it would no longer sell mobile phones with contracts. WHAT'S NEW: hhgregg estimated that its loss per share for Q4 would be 17c. On average, analysts had expected the company to report earnings per share of 10c for the period. The company's EPS guidance includes a pre-tax write down of about $4M related to its decision to stop selling mobile phones and its write-off of associated equipment. But the retailer's Q4 revenue guidance also came in below expectations, and it estimated that its comparable store sales during the quarter had tumbled 9.9%. hhgregg said that its results were hurt by the harsh winter weather. For fiscal 2014, the company predicted that its EPS, excluding certain items, would come in at 9c, versus the consensus estimate of 35c. PRICE ACTION: In late morning trading, hhgregg tumbled $1.30, or 15%, to $7.40, while Best Buy fell 4.5% to $24.50 and RadioShack gave back 6% to $1.90.
News For HGG;BBY;RSH From The Last 14 Days
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October 24, 2014
08:24 EDTBBYBofA/Merrill turning more positive on Best Buy
BofA/Merrill said it is turning more positive on Best Buy and raised estimates and its price target to $40 from $36 ahead of the Q3 report in November. The firm cites strong iPhone 6 sales and other new products for driving an increase in its Q3 comp forecast and expects the company to achieve its $1B cost savings target. BofA/Merrill expects steady margin expansion and shares repurchases to resume in 2015, which will add to earnings growth. Shares are Buy rated.
October 22, 2014
10:12 EDTBBYBest Buy calls active, reiterated as a top pick ahead of holiday’s at Barclays
Best Buy October weekly 32, November 34 calls are active on total call volume of 3K calls (1K puts). October weekly call option implied volatility is at 49, November is at 44, December is at 42; compared to its 26-week average of 35 according to Track Data. Active call volume suggests traders taking positions for large near term upside price movement after reiterated as a top pick ahead of holiday season at Barclays.
08:36 EDTBBYBest Buy reiterated as a top pick ahead of holiday season at Barclays
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October 16, 2014
15:25 EDTRSHRadioShack launches Apple Pay in stores next week
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October 15, 2014
15:55 EDTRSHRadioShack continues store closure talks with Salus Capital, The Deal says
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14:01 EDTBBYIntel launches 'Intel Experience' exclusively in 50 Best Buy stores
Intel (INTC) has launched “The Intel Experience” exclusively in 50 Best Buy (BBY) retail stores nationwide. The hands-on experience zone gives everyone the opportunity to try, explore and play with the latest, cutting-edge technologies like 3-D printing, gaming meets augmented reality, and digital disc jockey remixing.
October 10, 2014
05:57 EDTRSHStocks with implied volatility movement; RSH MDR
Stocks with implied volatility movement; RadioShack (RSH) 245, McDermott (MDR) 76 according to iVolatility.

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