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GameStop Corp Announced its Capital Allocation Plan (GME)
Tuesday, January 12, 2010 - 2:14pm | 130GameStop Corp. (NYSE: GME) announced its capital allocation plan which included a share buyback program worth $300 million. It also plans to invest $200 million in opening new stores worldwide and $100 million for other acquisitions. GameStop expects to have cash flows to the tune of $700 million...
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RBC Capital Is Bullish On RadioShack Corp (RSH)
Tuesday, January 12, 2010 - 1:01pm | 152RBC Capital has made an upward revision in the earnings as well as price estimates of RadioShack Corp (NYSE: RSH), the small-box consumer electronics retailer. The analyst feels that although the company’s stock has gone up significantly in the past 6 months, it is still comparatively cheaper than...
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GME’s Buyback May Boost Earnings By 10%
Tuesday, January 12, 2010 - 10:35am | 79Gamestop (NYSE: GME) plans to buyback stock worth $300 million. GME also plans to spend $200 million on capital expenditures for opening stores in 2010 and reserve $100 million for acquisition purposes. GME plans to make stock purchases on the basis of market conditions. The company said that the...
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GameStop In Trouble (GME)
Thursday, January 7, 2010 - 1:55pm | 171Video game retailer GameStop Corp. (NYSE: GME) has hit a bump in the road. The company is having its worst day in seven years after cutting its estimates for the fourth quarter. Their problems appear to stem from shortages of a Super Mario Bros. title and deep cuts in console prices, such as the...
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GameStop Corp. (GME) Maintains Buy Rating And $33 Price Target
Wednesday, January 6, 2010 - 11:57am | 159Analyst Benjamin Schachter at Broadpoint.Amtech maintains buy rating and a $33 price target on GameStop Corp. (NYSE: GME). Analysts believe that GameStop Corp. gained market share in software during the holiday, driven by the success of ATVI's Modern Warfare 2 and other "core" gamer titles such as...
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RadioShack Added To GS Conviction Buy List (RSH)
Tuesday, January 5, 2010 - 7:26pm | 281Goldman Sachs released a very bullish research report today on the shares of RadioShack Corp. (NYSE: RSH), upgrading the stock to Buy and adding it to their Conviction List. The stock had a huge day on the back of this report, jumping $1.57, or 7.94%, to $21.34 in trading on the New York Stock...
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Company News for January 05, 2010 - Corporate Summary
Tuesday, January 5, 2010 - 10:10am | 232• Kraft (NYSE:KFT) announced plans to utilize proceeds from the sale of its Canadian frozen food operations to Nestle for $3.75 billion cash, raising the cash portion of its hostile bid for Cadbury (NYSE:CBY) by 97 cents per share. Cadbury maintained the offer remains derisory • Brightpoint (NASDAQ...
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RadioShack (RSH) And Walmart (WMT) To Remain Strong
Monday, December 21, 2009 - 3:27pm | 143The retail sector, fueled by a solid online sales trend, is likely to fare well in the coming year. Talking to CNBC, Style File Group analyst Hitha Prabhakar placed her bets on value stocks such as WalMart (NYSE: WMT) and J Crew (NYSE: JCG). She stated that she would stay away from luxury stocks...
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East Coast Storm May Dampen Sales (HGG, BBY)
Monday, December 21, 2009 - 1:03pm | 126Analysts at FTN Equity Capital Markets Corp believe that the East Coast Storm could dampen sales of Best Buy (NYSE: BBY) and hhgregg (NYSE: HGG). However, the analysts have not downgraded the earnings estimate. Customers looking for deep discounts this holiday weekend – a la Black Friday – may end...
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BBY Continues To Witness Margin Pressure
Wednesday, December 16, 2009 - 3:03pm | 128Analysts at Goldman Sachs maintain their "neutral" rating on Best Buy Company Inc (NYSE: BBY)(FREE stock trend analysis), while raising their estimates for the company. The target price for BBY has been raised from $45 to $46. Although Best Buy has reported solid 3Q09 results and announced...
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Best Buy Company (BBY) Not A Good Buy, Say Analysts
Wednesday, December 16, 2009 - 1:13pm | 164Goldman Sachs & Co (NYSE: GS) assigned “Neutral” rating to Best Buy Company (NYSE: BBY) even though it raised its earning-estimates for 4Q09 to $1.81 from $1.73 with higher sales, offsetting the lower gross margin and the higher SG&A dollars. Matthew J. Fassler, an analyst at the...
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Company News for December 16, 2009 - Corporate Summary
Wednesday, December 16, 2009 - 10:35am | 284• General Electric (NYSE:GE) told investors the "worst is over" for its finance unit, even as Chairman and CEO Immelt forecast next year's revenues and earnings are likely to match this year's • Best Buy (NYSE:BBY) was downgraded to "sell" from "buy," reflecting the third quarter earnings numbers...
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Best Buy (BBY) Shares Fall On Weaker Holiday Margins
Wednesday, December 16, 2009 - 9:44am | 120Best Buy (NYSE: BBY) shares fell $4.15 to $41.22 on the issuance of a tepid gross margin forecast for the holidays. Best Buy pursued an aggressive promotional strategy to grab market share but seems to have been ineffective in garnering a higher share. On Tuesday, the company reported a third-...
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Benzinga’s News Roundup (JOYG, RHHBY, BBY, IBM, TOT)
Wednesday, December 16, 2009 - 8:59am | 357Joy Global Inc. (NASDAQ: JOYG)(FREE stock trend analysis) today reported its fourth-quarter net income of $124 million or $1.20 a share, as compared to $118 million or $1.11 a share from the same quarter last year. Sales declined by 7% to $964 million as against $1.03 billion in the year ago period...
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Best Buy (BBY) Falls Despite Good Report
Tuesday, December 15, 2009 - 3:47pm | 60Best Buy (NYSE: BBY) presented its Q3 report today and the numbers were better than expected. However, the stock is currently down by almost 7%. It has reported better sales but is already showing signs of strain on its margins. Best Buy has also failed to leverage on the absence of its key rival...