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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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January 15, 2015
09:36 EDTRSHActive equity options trading
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09:15 EDTBBY, RSHOn The Fly: Pre-market Movers
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07:07 EDTBBYBest Buy sees y/y pressure on operating income rate as early as 1Q16
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07:05 EDTBBYBest Buy sees impact of external pressures continuing in FY16
The company says, "We do expect the impact of the external pressures he laid out to continue throughout FY16 and the impact of the incremental investments to begin in the first quarter. Additionally, we believe that the positive Domestic sales trends that we saw in mobile phones and home theater during the holiday period, in addition to the share gains we saw across other NPD-reported Consumer Electronics categories, were partially driven by the excitement around high-profile products and will not likely continue at holiday levels. As such, while we are excited about these investments and confident in our ability to execute against them, we are also appropriately cautious about the pressures. Therefore, we are currently expecting enterprise comparable sales in the first half of FY16, excluding the estimated impact of installment billing, to be flat to negative low-single digits and the non-GAAP operating income rate to be down approximately 30 to 50 basis points reflecting a more modest sales environment and the impact of our incremental investments and SG&A inflation. We will more deeply discuss our growth initiatives, investments and external pressures in our fourth quarter earnings call in March after we have completed our FY16 operating plans.
07:05 EDTBBYBest Buy says increases Q4 outlook ex-Five Star business
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07:04 EDTBBYBest Buy CEO says holiday period growth rate lower than previous quarters
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07:03 EDTBBYBest Buy reports holiday period domestic revenue $10.13B, up 4.1% from last year
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07:01 EDTBBYBest Buy reports holiday domestic SSS up 2.6%
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06:27 EDTRSHRadioShack could file for bankruptcy as early as next month, WSJ reports
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January 14, 2015
10:21 EDTBBYOptions with decreasing implied volatility
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05:52 EDTRSHStocks with implied volatility movement; RSH ECOM
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January 13, 2015
10:17 EDTBBYOptions with decreasing implied volatility
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10:00 EDTBBYOn The Fly: Analyst Upgrade Summary
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09:07 EDTBBYOn The Fly: Pre-market Movers
HIGHER: Apple (AAPL), up 1.4% after Credit Suisse upgraded Apple to Outperform and raised its iPhone volume estimates again... Best Buy (BBY), up 2.8% after being upgraded to Buy from Neutral at Goldman... SunPower (SPWR), up 2.6% after being upgraded to Outperform at Credit Suisse... Alcoa (AA), up 2% after Q4 results beat expectations. RISING AFTER GUIDANCE: Pharmacyclics (PCYC), up 17.5%... CTI BioPharma (CTIC), up 8.3%... Emulex (ELX), up 15.5%... ARIAD (ARIA), up 2.6%. LOWER: ChannelAdvisor (ECOM), down 42% following preliminary fourth quarter revenue guidance and after receiving multiple analyst downgrades... Antares Pharma (ATRS), down 7.7% after the FDA recommended that the company create a larger safety database for its clinical development program for QuickShot Testosterone.
05:49 EDTBBYBest Buy volatility elevated into holiday sales report
Best Buy January call option volatility is at 110, February is at 50, March is at 47; compared to its 26-week average of 37 according to Track Data, suggesting large price movement into holiday sales report.
05:39 EDTBBYBest Buy upgraded to Buy from Neutral at Goldman
Goldman Sachs upgraded Best Buy to Buy from Neutral saying a pick-up in advanced TV sales and good sector fundamentals should drive better than expected Q4 results. Goldman also thinks shares will react favorably to any capital allocation decisions made by management given the retailer's "hefty" cash position. It raised its price target for shares to $45 from $38. Best Buy closed yesterday up $1.03 to $39.09.
January 12, 2015
19:23 EDTRSHRadioShack gets $500M loan offer from Salus Capital, WSJ reports
RadioShack received a $500M loan offer from Salus Capital to help with its bankruptcy filing, according to the Wall Street Journal, citing people familiar with the matter. The unsolicited offer from Salus Capital, which is known as a debtor-in-possession loan, expires on Thursday, the sources added. Reference Link
09:26 EDTHGGUBS events at 17th Annual ICR XChange Conference
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05:55 EDTRSHStocks with implied volatility movement; RSH AVP
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January 11, 2015
17:12 EDTBBYBest Buy shares could rise over 20%, Barron's says
Best Buy shares could rise over 20%, to around $45, driven by 4K television sales, Barron's contends in a feature article. Caution should still be used ahead of earnings, the paper adds. Reference Link
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