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The research firm Soleil says that its spies have seen a drop-off in wireless product sales and contract renewals at Radio Shack (RSH) stores, probably due to the availability of the Apple (AAPL) iPhone.
If so, it could be a rude awakening for investors who have watched the stock more than double this year on some evidence of a turnaround. The ratings service Fitch saw all of this in its crystal ball when it downgraded Radio Shakes debt to "BB" from "BB+." According to the AP: "The downgrades reflect weakness in many of RadioShack’s business segments, especially its wireless products and services segment, according to Fitch."
Which is short for saying a stock that has doubled may be expensive.
Douglas A. McIntyre
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