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Stock Market & Financial Investment News

News Breaks
April 15, 2014
11:41 EDTRSH, BBY, HGGElectronics 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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June 24, 2015
15:53 EDTBBYSunTrust identifies the most likely M&A activity in specialty retail
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11:11 EDTBBYAnalyst says Best Buy shares poised to rise
Best Buy's (BBY) stock is poised to advance after the company reports its second quarter results, research firm B. Riley predicted. WHAT'S NEW: Best Buy's forecast for increased margins in the second half of the year, along with easing comparisons, should cause the stock to rise, predicted B. Riley in a note to investors earlier today. The shares will be particularly well-positioned to climb after the company updates its guidance following its Q2 results, the firm believes. Best Buy's initiatives should help increase its revenue and profits heading into fiscal 2017 and the retailer can continues to increase its market share at the expense of Sears (SHLD), RadioShack and others. Additionally, macro economic trends remain favorable for Best Buy and its key product categories continue to perform well, according to B. Riley. The firm, which is particularly confident about the company's ability to beat Q4 consensus estimates, keeps a $47 price target on the name and reiterates a Buy rating on the shares. WHAT'S NOTABLE: In their own note to investors this morning, SunTrust analysts David Magee and D. Mitch Van Zelfden speculated on potential M&A activity in the specialty retail space, noting that "Wall Streetís appetite for acquisitions has strengthened recently." In their opinion, Best Buy acquiring GameStop (GME) is among the "most compelling relationships" in the sector, the note explained. PRICE ACTION: In mid-morning trading, Best Buy slid 0.4% to $34.72, while GameStop rose 1.3% to $44.92.
07:27 EDTBBYBest Buy recommended ahead of 2H margin gains at B. Riley
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