GameStop Reports Disappointing Holiday Sales (GME)

Shares of Gamestop GME are down slightly this morning, continuing yesterdays drop following a weaker than expected holiday sales report. December same-store-sales rose 3.4%, less than Wall Street was expecting. "We'll have to sort out the market reaction. I'm not sure what that means ... but in general we're hearing favorable things," GameStop's Chief Executive Paul Raines said in an interview. "This was slightly disappointing," said Wedbush Securities analyst Michael Pachter. Pachter expected sales to rise at least 5%.