Here is a recap of the top news items from this week on Wall Street:
1. Monday, a bankruptcy court approved the sale of "old" GM (OTC: GMGMQ) assets, officially marking the day of the "new" GM's emergence. Shares of the stock continued trading wildly, however, even as GM's management issued a press release reminding investors that the common shares will have no value in bankruptcy. As news hit on Friday that GM had officially completed its restructuring, investors believed they were buying the new and improved GM stock. Surging as much as 40% during Friday's trading session. It wasn't til after 2pm ET that the stock was halted by the Pink Sheets, after ...
StreetInsider.com Morning Movers:
Gevity HR, Inc. (NASDAQ: GVHR) 83% HIGHER; TriNet announced the signing of a definitive agreement to acquire Gevity HR, Inc. (NASDAQ: GVHR) for $4.00 per share in an all cash transaction valued at approximately $98 million
Gymboree (Nasdaq: GYMB) 36% LOWER; reports Q4 EPS of $1.00, 2 cents better than the analyst estimate of $0.98. Revenues for the quarter were $288.7 million, versus the consensus of $287.99 million. Gymboree sees Q1 EPS 18c to 25c versus 76 cents consensus. Sees Q1 comps down 20% to 25%.
Jackson Hewitt Tax Service Inc. (NYSE: JTX) 24% LOWER; reports Q3 non-GAAP EPS of $0.74, 2 cents better than the analyst estimate of $0.72. Revenues for the quarter were $97.8 million, versus the consensus of $104.73 million. Sees FY09 EPS of $1.00-$1.10, versus the consensus of $1.48, and revs of $250-$255 million, versus the Street estimate of $295 million.
Coldwater Creek Inc ...
