HHGregg (HGG) Up 9% On Earnings And Guidance News

Shares of HHGregg Inc HGG closed Thursday trading up 8.87% at $28.98 per share. Volume of 699,172 shares was nearly double the daily average volume of 321,573 shares. The day's trading range for shares of HHGregg Inc was between $27.00 and $29.14 per share. Earlier on Thursday morning, HHGregg Inc released financial results that missed Wall Street expectations, when it reported that its 4th quarter net income fell to $10 million, or 25 cents per share. A poll of analysts conducted by Thomson Reuters showed an average Wall Street estimate of expected earnings of 26 cents per share. HHGregg Inc also provided full-year 2011 earnings guidance in the range of $1.35 to$1.45 per share, on a net sales increase of 40 – 45%.