Bill Wexler's Trading Cabana Message Board

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Non-Tech : Bill Wexler's Trading Cabana

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To: Bill Wexler who wrote (1030)	5/1/2007 7:08:14 AM
From: RockyBalboa	Read Replies (1) of 6370

CC is now at 16, off another 8% on expected loss and slow sales.. Circuit City cut at Citi, more bad news could come By Aude Lagorce Last Update: 5:38 AM ET May 1, 2007 LONDON (MarketWatch) -- Citigroup downgraded electronics retailer Circuit City Stores (CC : 17.45, -0.48, -2.7%) to hold from buy and reduced its price target to $17 from $26 following the second cut in guidance by management in the space of one month. The broker told clients its downgrade was driven by its belief that there may be more bad news to come. It noted that the company's transaction close rates are deteriorating and that its market share is falling. It added that the company's investment heavy turnaround was dependent on a stable industry environment and the maintenance of sales, two factors it said appear to be worsening.

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