Diamonds and Dogs
1/14/13
hhGregg Inc. (HGG)HhGregg Inc. is getting burned today, down 5.70% to $7.44. The appliance, home furnishing, and electronics company saw its shares trade down after net sales declined last quarter. Hhgregg reported that net sales for the company's third quarter were $799.6 million, down 3.6 percent. Furthermore, comparable store sales fell 9.7 percent, with net income expected to be over $5 million less than last year. President and CEO, Dennis May said that the decline was driven by disappointing video performance and a declining industry demand for flat screen televisions. Hhgregg is well above its 52-week low of $5.84.
Dell Inc. (DELL)
Dell is trading in the green today, up 12.96% at $12.29. The computer company saw its shares explode after rumors of a possible buyout hit the market. Bloomberg News reported that Dell is having preliminary talks with two firms about going private. No deal may be made as it could be difficult to obtain the financing needed to take Dell private. Dell spokesman, Jess Blackburn said that the company doesn't comment on rumors and speculation. Midday, Dell shares spiked up 13.5 percent until it was halted for a while. However, trading resumed shortly after being halted and finished the day up near its daily high. Dell is still well off of its 52-week high of $18.36.
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