Insiders' Blog
Sponsored by: Subscribe to EasyStockAlerts.com Now & Get The News Before Everyone Else!
Borders (BGP) Jumps 20% On Smaller Loss
More News related to BGP
- Borders(R) and Waldenbooks(R) Stores Nationwide Host Holiday Parties Dec. 9
- Anuna to Perform and Sign Copies of 'Christmas Memories' at Borders in Westlake, Ohio Dec. 9
- Anuna to Perform and Sign Copies of 'Christmas Memories' at Borders in Ann Arbor Dec. 10
- Expert Buyers at Borders Recommend Hottest Gifts for Kids
- Educators Get Early Holiday Gift from Borders(R) and Waldenbooks(R) Dec. 4
More News related to Insiders' Blog
- Cramer Says Illinois Tool Works (ITW) Should Buy Manitowoc (MTW)
- Cramer Thinks Nike (NKE) Should Buy Under Armour (UA)
- Citadel Down 13% in November And 47% For The Year
- What's Next for Google Stock? $200 or $400? (GOOG)
- Ford's (F), CEO, Alan Mulally, Addresses Capitol Hill
Shares of Borders Group (NYSE: BGP) are up 21% mid-day after reporting a smaller-than-expected loss after the close.
Borders reported a Q2 GAAP loss of $0.19, versus the analyst estimate of a $0.29 loss. Revenues for the quarter were $749.2 million, versus the consensus of $782.89 million.
CEO George Jones said, "We have not only improved profitability, but also substantially reduced debt, improved cash flow and significantly strengthened our balance sheet."
Wall Street analysts cheered lower expenses at the book retailer. Goldman Sachs analyst said, "we expect more concerted expense controls to kick in over the next several quarters." The firm maintained their Hold rating on the stock.
Shares of Borders are up 21% today to $6.47, with a 52-week range of $3.87 to $16.62.
Borders Group, Inc., through its subsidiaries, operates book, music, and movie superstores. It also operates mall-based bookstores.
Related Categories
Insiders' BlogStocks Mentioned
-0.02Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
