Diamonds and Dogs
5/21/13Hhgregg Inc. (HGG)
Hhgregg is trading lower today, down 12.81% at $13.61. The television, appliance, computer, and consumer electronics company saw its shares fall on weak fourth quarter revenues. Hhgregg said late Monday that it earned $9.9 million, or $0.31 per share. Analysts expected earnings of $0.29 per share. Revenue fell 3% to $597.6 million, while analysts expected $620 million. Hhgregg dropped $2.00 per share today, but is still trading well above its 52-week low of $5.84.
SoundBite Communications Inc. (SDBT)
SoundBite is being heard loud and clear today, up 65.89% at $4.96. The cloud based mobile marketing company saw shares jump over 50% after news of a possible sale. SoundBite announced it was offered $5.00 per share for a buyout by Genesys. SoundBite hired Briscoe Law Firm and Powers Taylor LLP to review the offer and make sure that it was in shareholders' best interest and was not undervaluing the company. News of the deal sent shares of SoundBite up 60% premarket and helped shares set a new 52-week high of $4.99 intraday.