They're hand-picked from the list of Zacks Rank #1 Strong Buys. Our experts predict that their prices will jump the soonest.
Today, you can see them free.
| No Recent Quote currently available |
|
My Portfolio Tracker One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts. Set yours up today. |
Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.
Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.
Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.
My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.
| Company Name | Symbol | %Change |
|---|---|---|
| GLOBAL GEOPH | GGS | 7.79% |
| STAAR SURGIC | STAA | 6.23% |
| KAPSTONE PAP | KS | 6.14% |
| HORNBECK OFF | HOS | 5.99% |
| ANIKA THERAP | ANIK | 5.55% |
They're hand-picked from the list of Zacks Rank #1 Strong Buys. Our experts predict that their prices will jump the soonest. Today, you can see them free.
Please login to Zacks.com or register to post a comment.
Resources
Client Support
Zacks Research is Reported On:
Zacks Investment Research
is an A+ Rated BBB
Accredited Business.
Copyright 2013 Zacks Investment Research
At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1986 it has nearly tripled the S&P 500 with an average gain of +26% per year. These returns cover a period from 1986-2011 and were examined and attested by Baker Tilly, an independent accounting firm.
Visit performance for information about the performance numbers displayed above.
NYSE and AMEX data is at least 20 minutes delayed. NASDAQ data is at least 15 minutes delayed.
This page is temporarily not available. Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext. 9339.
Richard Schulze declined an offer from the board to conduct due diligence and go to shareholders with his offer to take the electronics retailer private.
Schulze had pervious sent a letter to board in which he outlined that he wanted to be allowed to team up with private equity groups in an attempt to take the retailer private. Schulze owns approximately 20% of the company and was looking at a takeout price of between $24-$26.
Reports coming out of the private meetings held with Schulze state that the board wanted a standstill period of 18 months, which was rejected. Logically, the proposal makes little sense in the face of stiff competition and declining market share. Waiting an additional year and a half would only allow the company to lose more ground to rivals.
The company also announced it has hired Huber Joly as its new CEO. In April Brian Dunn left the company during an investigation into his personal conduct. Joly comes from the French travel firm Carlson Wagonlit Travel.
Does the combination of an uninspiring hire as CEO and the board blocking an acquisition a signal that Best Buy (BBY - Analyst Report) is a sell? Shares are already lower by almost 7% in early trading but are they likely to move lower?
As I see it, the board blocking a potential acquisition at a significantly higher price boarders on a breach of fiduciary responsibility. Installing a new CEO of a travel company may be just what the retailer needs, but the transition from travel to retail electronics may prove to be too difficult.
This situation reminds me of another failed takeover bid. When Microsoft tried to buy Yahoo! a few years back, the board did everything it could to hinder the deal. As a result Yahoo! fell to record lows in the months following the blown up deal.
Can the same thing happen with Best Buy? Tell us what you think!
Get the full Analyst Report on BBY - FREE