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Zacks #1 Stocks on the Move 05/17/2013
| Company Name | Symbol | %Change |
|---|---|---|
| VIASAT INC | VSAT | 19.35% |
| OLD SECOND B | OSBC | 5.76% |
| GAMCO INVEST | GBL | 4.61% |
| CORNING | GLW | 4.47% |
| SYNCHRONOSS | SNCR | 4.23% |
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On a constant-currency basis, total worldwide net sales for the two months period ended Dec 31, 2012, marked an increase of 4%, whereas comparable-store sales remained flat. We observe that the rate of growth of net sales and comps decelerated from 6% and 4%, respectively, registered during the two months period ended Dec. 31, 2011. Management now expects fiscal 2012 earnings to be at the lower end of the previously provided guidance range of $3.20 to $3.40 per share.
Tiffany had earlier trimmed its sales growth forecast to 5% to 6% for fiscal 2012, and hinted of contraction in operating margin. Consequently, we maintain our Underperform recommendation on the stock, until we see any catalyst triggering an upside.
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