Best Buy Co., Inc. (NYSE:BBY)’s Canadian unit will lay off 950 full-time employees, or about 5.6% of its workforce, as it realigns its operations to better compete in a tough retail environment. Best Buy Co., Inc. (NYSE:BBY) stock opened at $24.29 in last trading session, and closed at $22.72, trading in the range of $22.68 – $24.48. The stock showed a negative weekly performance of -12.85%.
Shareholder rights law firm Johnson & Weaver, LLP is investigating whether certain officers and directors of ADT Corp (NYSE:ADT) violated state or federal laws in connection with statements issued regarding ADT’s business, operations, financial prospects and share buyback program. The investigation will also focus on the circumstances surrounding a multi-billion dollar buyback program. ADT Corp (NYSE:ADT) shares closed at $31.40 on last trade day, by losing -16.95%. Stock 52 week range is $29.56 – $50.37. Company’s market capitalization is $6.34 billion.
Citrix Systems, Inc. (NASDAQ:CTXS) declared mixed financial results for the fourth quarter of 2013. While net income surpassed the Zacks Consensus Estimate, total revenue missed the same. Following the results, management significantly slashed its earnings per share projection for the next quarter. As a result, the stock price of Citrix plummeted 4.95% or $2.85 yesterday in the aftermarket trade. GAAP net income, in fourth-quarter 2013, was $138.6 million or 74 cents per share compared with $114 million or 60 cents per share in the prior-year quarter. Quarterly adjusted earnings per share of 87 cents easily beat the Zacks Consensus Estimate of 79 cents. The total revenue was $802.4 million, up 8.4% year over year but slightly below the Zacks Consensus Estimate of $807 million. Citrix Systems, Inc. (NASDAQ:CTXS) stock decreased -7.48% and finished the last session at $53.29. The EPS of the stock remained 1.67. Company’s market capitalization is $9.93 billion.
Kennametal Inc. (NYSE:KMT) announced that Chairman, President and Chief Executive Officer Carlos M. Cardoso will meet with various members of the financial community in Baltimore, Wilmington & Philadelphia on February 4-5, 2014. Kennametal Inc. (NYSE:KMT) stock opened at $43.30 in last trading session and closed at $44.35. The 52 week range of the stock is $35.49 – $52.37 and the day range was $38.85 – $44.72.
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