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Stock Market & Financial Investment News

News Breaks
June 10, 2014
07:04 EDTRSHRadioShack closed 22 stores in FY15, expects to close up to 200 stores
Joseph Magnacca, CEO, said, "Overall, our first quarter performance was challenged by an industry-wide decline in consumer electronics and a soft mobility market which impacted traffic trends throughout the quarter. In particular, our mobility business was weak due to lackluster consumer interest in the current handset assortment and increased promotional activities across the industry including the wireless carriers. This resulted in disappointing sales and gross margin performance."
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August 12, 2014
07:39 EDTRSHRadioShack turnaround highly in doubt, says UBS
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06:51 EDTRSHRadioShack turnaround in doubt, says UBS
UBS said RadioShack's turnaround efforts have been impacted by the difficult operating environment and its financial flexibility is in a "perilous position." The firm notes the company's CD's have climbed 70% in the last month indicating the cost of doing business with counter-parties has gotten more expensive. The firm is skeptical limited store remodels will impact the entire chain and that new products will not change the company's perception. Shares are Sell rated with a 50c price target, down from 90c.

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