24/7 Wall St. » GME

Retailer Earnings Up Most in Two Years (WMT, DKS, HIBB, BBBY, WSM, BWS, FL, BBY, GME, WTSLA, GPS, ANF)

Paul Ausick — Wed, 23 May 2012 11:36:11 +0000

With 80% of the 120 companies it tracks having reported first quarter 2012 results, research firm Retail Metrics says that retailers who beat earnings estimates are up 5% year-over-year for the period, considerably higher than the 12-year average gain of 3.2%. Of 97 retailers reporting to date, 71% have beat expectations, 14% have met expectations, and 15% have missed.

Earnings growth for the reporting retailers is up too, by 11.8%. Excluding Wal-Mart Stores Inc. (NYSE: WMT) due to its size, Retail Metrics reckons that its 120 retailers will show profit growth of 12.2% in the first quarter. Including Walmart, profits will rise 13.8%.

The best profit growth is expected in the recreational sector, with Dick’s Sporting Goods Inc. (NYSE: DKS) and Hibbett Sports Inc. (NASDAQ: HIBB) leading the way a 40%+ earnings gain. Home furnishing retailers are expected to post 40% gains, led by Bed Bath & Beyond Inc. (NASDAQ: BBBY) and Williams-Sonoma Inc. (NYSE: WSM). Footwear retailers are tabbed to grow profits 31%, following huge gains at Brown Shoe Co. (NYSE: BWS) and Footlocker Inc. (NYSE: FL).

The worst performing sector is projected to be consumer electronics, with teen apparel stores the only other retailing sector expected to post overall losses. Best Buy Co. Inc. (NYSE: BBY) and GameStop Corp. (NYSE: GME) are the big players here. Teen apparel retailers like Wet Seal Inc. (NASDAQ: WTSLA), Gap Inc. (NYSE: GPS), and Abercrombie & Fitch Co. (NYSE: ANF) have struggled with same-store sales and revenues, as well as earnings.

Paul Ausick

Filed under: Apparel, Consumer Goods, Economy, Research, Retail Tagged: ANF, BBBY, BBY, BWS, DKS, FL, GME, GPS, HIBB, WMT, WSM, WTSLA

Best Buy Bounces, But Not Enough (BBY, RSH, GME, AMZN, WMT, AAPL)

Paul Ausick — Tue, 22 May 2012 12:35:58 +0000

Electronics retailer Best Buy Co. Inc. (NYSE: BBY) reported first quarter results this morning that were better than expected and the company’s shares are getting a much-needed bounce. The company reported adjusted EPS of $0.72 above an estimate of $0.59. Revenue totaled $11.61 billion, also above the consensus estimate of $11.5 billion.

Besides competing with smaller national rivals like RadioShack Corp. (NYSE: RSH) and GameStop Corp. (NYSE: GME), Best Buy has to slug it out with retailers Amazon.com Inc. (NASDAQ: AMZN), Wal-Mart Stores Inc. (NYSE: WMT), and direct sellers like Apple Inc. (NASDAQ: AAPL).

And while Best Buy touts its increases in sales of mobile phones and other portable devices, it also notes:

Areas of comparable store sales growth in the Domestic segment included tablets and mobile phones within the Computing & Mobile Phones revenue category, eReaders within the Consumer Electronics revenue category and Appliances. These increases were more than offset by comparable store sales declines primarily in notebooks within the Computing and Mobile Phones revenue category, gaming within the Entertainment revenue category, and digital imaging and televisions within the Consumer Electronics revenue category. The Domestic segment online channel revenue grew 20 percent compared to the prior-year period.

Selling more cheaper devices does not make up for lost sales in pricier items, unless a retailer can sell an enormous number. Best Buy can’t do that because there’s simply too much competition from wireless carriers, other retailers, and direct sales.

The company reiterated its full-year adjusted EPS guidance of $3.50-$3.80, in-line with the consensus estimate of $3.59. But weak international sales and declining same-store sales mean that Best Buy will be forced to close more stores, which will hurt revenues and ultimately profits unless the company can really figure out a way to boost its online sales. The outlook is probably not as rosy as the company would like us to think.

Shares are up about 1.6% in the pre-market, but were up as much as 6% at one point. Current price is $18.43 in a 52-week range of $17.53-$32.85. The 52-week low was set yesterday.

Paul Ausick

Filed under: Consumer Electronics, Earnings, Hardware, Pre-Market Activity, Retail, Software, Video Games Tagged: AAPL, AMZN, BBY, GME, RSH, WMT

Media Digest (5/18/2012) Reuters, WSJ, NYT, FT, Bloomberg

247wallst — Fri, 18 May 2012 10:24:27 +0000

G8 leaders will seek solutions to the EU crisis. (Reuters)

The Facebook IPO, priced at $38, will raise $16 billion. (Reuters)

A new poll shows Greeks favor pro-bailout leaders who will keep the country in the eurozone. (Reuters)

Verizon’s (NYSE: VZ) wireless operations will charge more for 4G data plans. (Reuters)

Hewlett-Packard (NYSE: HPQ) to cut its workforce by 25,000 to 30,000 people. (WSJ)

The United States sets duties on Chinese solar panels. (WSJ)

Gamestop (NYSE: GME) cuts its sales forecast. (WSJ)

Though Angela Merkel’s view of austerity for the region has been challenged recently, she appears to have no interest in changing her approach. (WSJ)

Twenty venture-backed U.S. firms are now valued above $1 billion. (WSJ)

The custodian of a group of New York City pension funds wants shareholders to vote against two directors on the Chesapeake Energy (NYSE: CHK) board. (WSJ)

The Gap (NYSE: GPS) raises its sales forecasts as its turnaround finally takes hold. (WSJ)

JP Morgan (NYSE: JPM) had no treasurer in place when its CIO made risky trades. (WSJ)

Treasury yields hit their lowest level ever as a flight to quality accelerates. (WSJ)

The eurozone may have done a good job preparing for a Greek exit. (NYT)

The U.S. Post Office will consolidate 48 mail processing centers to save money. (NYT)

JP Morgan’s trading unit has $100 billion in risky assets. (FT)

Apple (NASDAQ: AAPL) may offer an iPhone with a larger screen. (Bloomberg)

In China, home prices fall and car inventories rise — more signs of a slowing economy. (Bloomberg)

Douglas A. McIntyre

Filed under: Press Digest Tagged: AAPL, CHK, GME, GPS, HPQ, JPM, VZ

24/7 Wall St. Closing Bell — May 17, 2012

Paul Ausick — Thu, 17 May 2012 20:04:49 +0000

The three major US stock indexes opened essentially flat this morning as investors were faced with a flat report on new claims for jobless benefits (our coverage here). Manufacturing data from the Philadelphia Fed came in much lower than expected and the leading economic indicators also weighed the market down (more coverage here). The US dollar index rose slightly today, now up 0.03% at 81.398. The GSCI commodity index is down fractionally at 633.40, with commodities mostly higher again today. Wheat is the big gainer again today, while orange juice futures were down more than -6%. WTI crude oil closed down -0.3% at $92.56/barrel, and Brent crude trades down at -2% at $107.55/barrel. Gold settled up 2.5% today, at $1,574.90/ounce, ending a four-day losing streak.

The unofficial closing bells put the DJIA down 156 points to 12,442.49 (-1.24%), the NASDAQ fell more than 60 points (-2.10%) to 2,813.69, and the S&P 500 fell -1.50% or nearly 20 points to 1,304,87.

There were several analyst upgrades and downgrades today, including Dell Inc. (NASDAQ: DELL) raised to ‘neutral’ at Sterne Agee; IntercontinentalExchange Inc. (NYSE: ICE) raised to ‘strong buy’ at Raymond James; SINA Corp. (NASDAQ: SINA) raised to ‘overweight’ at Barclays; Visa Inc. (NYSE: V) reiterated as ‘buy’ but removed from Conviction Buy List at Goldman Sachs; Deere & Co. (NYSE: DE) reiterated as ‘buy’ with target price of $96 at Argus.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: Bon-Ton Stores Inc. (NASDAQ: BONT) is down -7.3% at $4.09; Dollar Tree Inc. (NASDAQ: DLTR) is down -5.6% at $95.60; E-Commerce China Dangdang Inc. (NYSE: DANG) is down -16.6% at $6.25 (more coverage here); GameStop Corp. (NYSE: GME) is down -10.1% at $18.72 (more coverage here); Sears Holdings Corp. (NASDAQ: SHLD) is up 3.9% at $52.84; and Wal-Mart Stores Inc. (NYSE: WMT) is up 4.7% at $61.97 (more coverage here).

On Friday we are scheduled to get earnings from ANN Inc. (NYSE: ANN), Brown Shoe Co. Inc. (NYSE: BWS), JA Solar Holdings Co. Ltd. (NASDAQ: JASO), Progressive Corp. (NYSE: PGR), and Footlocker Inc. (NYSE: FL).

Other standouts from today include the following stocks:

Rosetta Genomics Ltd. (NASDAQ: ROSG) is down -17.7% at $4.11. The medical diagnostics firm priced a secondary offering this morning. More coverage here.

Dendreon Inc. (NASDAQ: DNDN) is down -11.3% at $7.65. The company’s prostate cancer drug got another challenge from a competing product from Johnson & Johnson (NYSE: JNJ). More coverage here.

MEMC Electronic Materials Inc. (NYSE: WFR) is down -21.4% at $1.68 after posting a new 52-week low of $1.63. The solar component maker lost its CFO today. More coverage here.

Stay tuned for Friday. We don’t have anything on the schedule for tomorrow, but that doesn’t mean that we’ll have a quiet day.

Paul Ausick

Filed under: General Tagged: ANN, BONT, BWS, DANG, DE, DELL, DLTR, DNDN, FL, GME, ICE, JASO, PGR, ROSG, SHLD, SINA, V, WFR, WMT

GameStop Forecast Not Pretty

Paul Ausick — Thu, 17 May 2012 13:54:34 +0000

Video game retailer GameStop Corp. (NYSE: GME) reported earnings this morning, and there were really no big surprises. The company had already said EPS would be $0.54. Revenues were a bit light, at $2 billion compared with a consensus estimate of $2.05 billion.

Compared with the same period a year ago, total sales were down -12.2% and comparable store sales were down -12.5%. In its earnings report the company said:

Despite slower store traffic during the quarter, we achieved our earnings target due primarily to gross margin expansion and positive profit contributions from our pre-owned, mobile and digital businesses. We expect those segments to fill the profitability gap as we transition to the new console cycle.

The company’s revenues were lower in all of its categories, but profits were higher in two of the four, with new hardware and new software profits falling year-over-year. The company’s “Other” category, which includes digital and mobile businesses, grew 23%. Mobile contributed $12 million in quarterly revenue and GameStop said that amount is on target for the company to reach $150-$200 million in mobile sales for 2012. All the company’s hopes are tied up in a big holiday season.

The company’s forecast will devour the share price today. GameStop forecast second quarter sales down -11% to -5% and EPS of $0.10-$0.18. The consensus EPS estimate had been $0.26, less than half this quarter’s EPS. The company maintained its full-year EPS guidance of $3.10-$3.30, with the consensus analyst estimate of $3.20 right in the middle.

GameStop will need a miracle to reach those numbers. By the company’s own plan it will be less than a third of the way to its EPS target at the end of the first half of the fiscal year. Even if the company equals last year’s EPS for the second half of the year, it will still fall way short of the current guidance.

Shares are down -9.2% at $18.92 in the first twenty minutes of trading this morning. The stock’s 52-week range is $18.34-$28.66.

Paul Ausick

Filed under: Earnings, Entertainment, Internet, Video Games Tagged: featured, GME

24/7 Wall St. Closing Bell — May 16, 2012

Paul Ausick — Wed, 16 May 2012 20:05:52 +0000

The three major US stock indexes opened higher this morning as investors appeared to be reacting to a temporarily stronger euro, which indicated some confidence in the Eurozone generally. But the dollar regained its lost ground by mid-morning and looks to be continuing a run of 12 straight stronger showings, something last seen more than a quarter century ago. US housing data was not encouraging either (more coverage here). The US dollar index rose today, now up 0.14% at 81.336. The GSCI commodity index is up fractionally at 636.10, with commodities mostly higher today, defying the stronger dollar. Wheat was today’s big gainer. WTI crude oil closed down -1.2% at $92.81/barrel, it’s lowest close since November, and Brent crude trades down at -1.66% at $109.60/barrel. Gold settled down -1.3% today, at $1,536.60/ounce, the yellow metal’s lowest close since last July.

The unofficial closing bells put the DJIA down more than 33 points to 12,598.63 (-0.26%), the NASDAQ fell nearly 20 points (-0.68%) to 2,874.04, and the S&P 500 fell -0.44% or nearly 6 points to 1,324.81.

There were several analyst upgrades and downgrades today, including Cisco Systems Inc. (NASDAQ: CSCO) raised to ‘overweight’ at Barclays; Patriot Coal Corp. (NYSE: PCX) cut to ‘market perform’ at FBR; Aetna Inc. (NYSE: AET) cut to ‘hold’ at Argus; Baker Hughes Inc. (NYSE: BHI) cut to ‘neutral’ at JPMorgan; and SandRidge Energy Inc. (NYSE: SD) raised to ‘hold’ at Canaccord Genuity.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: 8×8 Inc. (NASDAQ: EGHT) is down -1.5% at $3.86; Chico’s FAS Inc. (NYSE: CHS) is up 4.2% at $15.28; Deere & Co. (NYSE: DE) is down -3.1% at $74.23 (more coverage here); Eagle Materials Inc. (NYSE: EXP) is down -5.2% at $33.13; LiveDeal Inc. (NASDAQ: LIVE) is up 5.9% at $6.14; and Target Corp. (NYSE: TGT) is up 0.7% at $55.49 (more coverage here).

On Thursday we are scheduled to get earnings from Bon-Ton Stores Inc. (NASDAQ: BONT), Dollar Tree Inc. (NASDAQ: DLTR), E-Commerce China Dangdang Inc. (NASDAQ: DANG), GameStop Corp. (NYSE: GME), Jinkosolar Holding Co. Ltd. (NYSE: JKS), Ross Stores Inc. (NASDAQ: ROST), Sears Holdings Corp. (NASDAQ: SHLD), Teekay Corp. (NYSE: TK), and Wal-Mart Stores Inc. (NYSE: WMT).

Other standouts from today include the following stocks:

J.C. Penney Co. Inc. (NYSE: JCP) is down -19.2% at $26.92. The retailer absolutely failed on quarterly results. More coverage here.

Rosetta Genomics Ltd. (NASDAQ: ROSG) is up 263% at $5.88. The medical test making firm will have one of its tests covered by Medicare. There was also a 1-for-15 reverse stock split. More coverage here.

Abercrombie & Fitch Inc. (NYSE: ANF) is down -13.7% at $39.21 after posting a new 52-week low of $38.26 earlier today. The teen retailer badly missed estimates last night.

Stay tuned for Wednesday. St. Louis Fed President James Bullard is giving a speech. We have also noted the following events on the schedule (all times Eastern):

8:30 a.m. – New claims for unemployment benefits
10:00 a.m. – Philadelphia Fed manufacturing survey
10:00 a.m. – E-commerce retail sales
10:00 a.m. – Leading indicators
10:30 a.m. – EIA weekly natural gas storage report
4:30 p.m. – Fed balance sheet and money supply

Paul Ausick

Filed under: HI/LOW, Market Close Tagged: AET, ANF, BHI, BONT, CHS, CSCO, DANG, DE, DLTR, EGHT, EXP, GME, JCP, JKS, LIVE, PCX, ROSG, ROST, SD, SHLD, TGT, TK, WMT

EA Guidance Minimizes Value and Turnaround (EA, ATVI, BBY, GME)

Administrator — Mon, 07 May 2012 20:26:59 +0000

Electronic Arts Inc. (NASDAQ: EA) has released its earnings, and we forecast that this will help set the reception tone for Activision Blizzard Inc. (NASDAQ: ATVI) when it reports later in the week. EA called it a strong quarter and said that it generated $1.2 billion of digital revenue in its fiscal year-end with growth expected there in the year ahead.

The company is also calling this coming year a year it breaks away from the pack with a very different profile than the traditional game companies and capabilities. It also noted that none of the company’s new digital competitors can match EA. The video game giant further noted 20% non-GAAP EPS growth in fiscal 2012, and it now expects over 30% growth in 2013, based upon the midpoint of own guidance.

In this past quarter, EA generated net revenue of $977 million, and that was slightly ahead of its guidance of $925 to $975 million. Non-GAAP diluted earnings per share of $0.17 was in line with its guidance of $0.10 to $0.20 EPS. Thomson Reuters had estimates of $0.16 EPS and $958.5 million in revenues.

Guidance is being offered for a year out to its February 2013 year-end: $4.3 billion in sales and $1.05 to $1.20 EPS (both non-GAAP of course) against Thomson Reuters estimates of $1.12 EPS and $4.5 billion in sales.

Next quarter guidance is being put at -$0.45 to -$0.40 EPS and $500 million in revenue (both also non-GAAP) against Thomson Reuters estimates of -$0.33 EPS and $577.9 million in sales.

EA shares closed up $0.01 at $15.13 against a 52-week range of $14.48 to $26.13; shares are down about 7.3% at $13.90 in the after-hours session.

JON C. OGG

Filed under: Consumer Electronics, Earnings, Earnings Warning, Media, Turnarounds, Value Investing, Video Games Tagged: ATVI, BBY, EA, featured, GME

Bracing For Weak Video Game Data Again (GME, ATVI, EA, TTWO, ZNGA)

Administrator — Wed, 11 Apr 2012 19:00:20 +0000

GameStop Corporation (NYSE: GME) may be down today because of a Needham & Co. research downgrade where the video game retailer was cut to “Hold.” There is another interesting call to analyze today and that is a call from Stern Agee warning about very weak video game sales for the month of March. The NPD video game sales data is due Thursday afternoon and at least one research call is looking as though the sales could be awful again. If the headline data is as bad as the call it would extend far beyond GameStop.

Today’s projection could spell further caution for Activision Blizzard, Inc. (NASDAQ: ATVI), Electronic Arts Inc. (NASDAQ: EA), and Take-Two Interactive Software Inc. (NASDAQ: TTWO). One issue which could still be a thorn in the side of the video game industry is the freemium games and social games from Zynga, Inc. (NASDAQ: ZNGA) and others.

Stern Agee’s research team for interactive entertainment and internet stocks noted, “U.S. video game software sales in March 2012 were down 25% to 30% year over year, slightly worse than February’s 23% decline. We believe our estimate is slightly below the Street’s.”

The forward data is a bit ominous as well because the April comparable sales were up 16% a year ago and that is likely to translate to another double-digit drop as well.

The firm noted strength may arrive in May and noted, “We expect software sales in the month of May to improve (and potentially be up) driven by the launch of Max Payne 3, Diablo III and Tom Clancy’s Ghost Recon Future Soldier compared to L.A. Noire and a couple of smaller titles.”

If the data is really ugly on Thursday, video game stocks could have a very rough day on Friday just from the headline shocks.

While the broad market is up, video game stocks are lower. GameStop Corporation (NYSE: GME) is down 0.5% at $21.31, Activision Blizzard, Inc. (NASDAQ: ATVI) is down 0.3% at $12.33, Electronic Arts Inc. (NASDAQ: EA) is up 1.6% at $15.80, and Take-Two Interactive Software Inc. (NASDAQ: TTWO) is up only $0.01 at $14.75. Zynga, Inc. (NASDAQ: ZNGA) is also lower by 0.9% at $11.41.

JON C. OGG

Filed under: Entertainment, Media, Video Games Tagged: ATVI, EA, GME, TTWO, ZNGA

Top Analyst Upgrades & Downgrades (AMSC, CPHD, EGO, GME, HBAN, JCP, M, NVDA, PLCM, SAP, SVU, UAL, YELP)

Administrator — Wed, 11 Apr 2012 12:17:35 +0000

These are some of the top analyst upgrades, downgrades, and initiations seen from Wall Street research calls this Wednesday.

American Superconductor Corporation (NASDAQ: AMSC) Started as Buy at Maxim Group.

Cepheid, Inc. (NASDAQ: CPHD) named Bull of the Day at Zacks.

Eldorado Gold Corporation (NYSE: EGO) Raised to Buy at Canaccord Genuity.

GameStop Corporation (NYSE: GME) Cut to Hold at Needham.

Huntington Bancshares (NASDAQ: HBAN) Started as Neutral at Goldman Sachs.

J. C. Penney Company, Inc. (NYSE: JCP) Started as Neutral at UBS.

Macy’s, Inc. (NYSE: M) Started as Neutral at UBS.

NVIDIA Corporation (NASDAQ: NVDA) Started as Outperform at RBC.

Polycom Inc. (NASDAQ: PLCM) Cut estimates but maintained Buy at Argus.

SAP AG (NYSE: SAP) Cut to Hold at ThinkEquity.

SuperValu Inc. (NYSE: SVU) maintained Neutral but cut target to $6 at Credit Suisse.

United Continental (NYSE: UAL) named as Bear of the Day at Zacks.

Yelp Inc. (NYSE: YELP) Started as Neutral at Goldman Sachs; Started as Neutral at Citigroup; Started as Perform at Oppenheimer; Started as Hold at Jefferies.

If you enjoyed the top analyst upgrades and downgrades, you can join our free email newsletter that includes analyst summaries each morning sent right to your inbox. We also cover top issues such as IPOs, special financial exclusives, mergers and more. Sign up in the box below.

JON C. OGG

Filed under: Analyst Calls Tagged: AMSC, CPHD, EGO, GME, HBAN, JCP, M, NVDA, PLCM, SAP, SVU, UAL, Yelp

24/7 Wall St. Closing Bell (XOM, WDC, RAX, NLY, EMR, BBX, CAG, GME, IHS, LULU, PERY, SONC, NCTY, DG, DISCA, RGR, SWHC, BTFG, DMND)

Paul Ausick — Thu, 22 Mar 2012 20:06:33 +0000

Markets opened sharply this morning and remained in negative territory all day. Purchasing managers’ indexes in the eurozone and in China came in lower than expected this morning, weighing European and Asian shares. The US dollar index rose slightly today, now up 0.10% at 79.733. Commodities were mixed on the dollar strength, with grains and sugar higher, and most other commodities lower. The US EIA weekly natural gas storage report showed a gain of 11 billion cubic feet in US inventories, sending natural gas prices tumbling nearly -4%. (our coverage here). WTI crude oil closed down -1.8% at $105.35/barrel, and Brent crude trades down -0.88% at $123.11/barrel. Gold settled down -0.5% today, at $1,642.50/ounce, a nine-week low.

The unofficial closing bells put the DJIA down more than 78 points to 13,046.14 (-0.60%), the NASDAQ fell 12 points (-0.39%) to 3,063,32, and the S&P 500 fell -0.72% or about 10 points to 1,392,79.

There were several analyst upgrades and downgrades today, including Exxon Mobil Corp. (NYSE: XOM) raised to ‘neutral’ with a $92 target price at JPMorgan; Western Digital Corp. (NYSE: WDC) raised to ‘strong buy’ at Needham; Rackspace Hosting Inc. (NYSE: RAX) cut to ‘neutral’ at Goldman Sachs; Annaly Capital Management Inc. (NYSE: NLY) cut to ‘underperform’ at Sterne Agee; and Emerson Electric Co. (NYSE: EMR) raised to ‘buy’ at Nomura.

Earnings reports since markets closed last night have led to some price changes as of the last half hour of trading today: BankAtlantic Bancorp Inc. (NYSE: BBX) is down -1.7% at $3.97; ConAgra Foods Inc. (NYSE: CAG) is down -0.6% at $26.21; Gamestop Corp. (NYSE: GME) is down -6% at $23.17; IHS Inc. (NYSE: IHS) is down -4.9% at $92.89; Lululemon Athletica Inc. (NASDAQ: LULU) is up 2.9% at $76.20 after posting a new 52-week high of $76.66 earlier today; Perry Ellis International Inc. (NASDAQ: PERY) is up 3% at $18.42; Sonic Corp. (NASDAQ: SONC) is down -6.8% at $7.50; and The9 Ltd. (NASDAQ: NCTY) is down -5% at $7.01.

Other standouts from today include the following stocks:

Dollar General Corp. (NYSE: DG) is up 3.33% at $46.24 after posting a new 52-week high of $46.95 earlier today. The discount retailer posted better than expected earnings results. More coverage here.

Discovery Communications Inc. (NASDAQ: DISCA) is down -0.35% at $48.16. The cable network may take a big loss its investment in the Oprah Winfrey Network. More coverage here.

Sturm, Ruger & Co. (NYSE: RGR) is up 13.4% at $47.95 after posting a new 52-week high today of $48.24. Smith & Wesson Holdings Co. (NASDAQ: SWHC) is up nearly 14% at $7.84 after posting a new 52-week high of $8.00. The gunmakers are rising on Ruger’s announcement that it will not be accepting any new orders until May because it is fully booked. More coverage here.

Banc Trust Financial Group Inc. (NASDAQ: BTFG) is down more than -18% at $1.22. The bank holding company warned on earnings this morning. More coverage here.

Diamond Foods Inc. (NASDAQ: DMND) is down -8% at $23.59. The snack food maker is suspending its dividend. More coverage here.

Stay tuned for Friday. Federal Reserve Chairman Ben Bernanke, Atlanta Fed President Dennis Lockhart, and St. Louis Fed President James Bullard are giving speeches. We have also noted the following event on the schedule (all times Eastern):

10:00 a.m. – New home sales

Paul Ausick

Filed under: HI/LOW, Market Close, The Day Tagged: BBX, BTFG, CAG, DG, DISCA, DMND, EMR, GME, IHS, LULU, NCTY, NLY, PERY, RAX, RGR, SONC, SWHC, WDC, XOM