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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 31, 2014
12:45 EDTBBYOn The Fly: Midday Wrap
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08:13 EDTBBYGoPro lack of international growth a concern, says Citigroup
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October 30, 2014
18:45 EDTRSHSalus Capital looks to increase RadioShack debt, Bloomberg says
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12:37 EDTHGGh.h. gregg price target lowered to $3 from $6 at Barclays
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09:47 EDTBBYBest Buy upgraded to Outperform from Peer Perform at Wolfe Research
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08:54 EDTBBYWal-Mart considers matching online prices from Amazon for holidays, WSJ says
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07:27 EDTHGGh.h. gregg says Q2 results reflect consumer electronics 'challenges'
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07:25 EDTHGGh.h. gregg says Q2 SSS decrease due to SSS decline in appliance, electronics
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07:22 EDTHGGh.h. gregg sees 2H15 to outperform 1H15
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07:20 EDTHGGh.h. gregg reports Q2 EPS (37c), may not compare to consensus 0c
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06:04 EDTBBYMCX says unauthorized parties obtained email addresses of CurrentC participants
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October 29, 2014
09:00 EDTRSHRadioShack names Harry Wilson as Chief Revitilization Officer
Harry J. Wilson, founder and CEO of The MAEVA Group, will serve as the Chief Revitalization Officer of RadioShack, reporting to RadioShack CEO Joe Magnacca and the RadioShack Board.
08:08 EDTRSHRadioShack announces MAEVA Group to provide advisory services
RadioShack announced that The MAEVA Group will provide advisory services to RadioShack's board and management as the Company moves forward with its operational and financial turnaround.
07:53 EDTBBYMCX member stores block Apple Pay amid threat of fines, NY Times says
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October 28, 2014
06:38 EDTBBYApple says Apple Pay in 220,000 locations already, Business Insider reports
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October 27, 2014
07:15 EDTBBYWal-Mart, Best Buy among companies rejecting Apple Pay, Business Insider says
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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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