HHGregg (NYSE:HGG): “Our sales results for the quarter are an indicator of the difficulty in the current retail environment, and more specifically the embedded volatility in the video industry,” said HH Gregg’s Chief Executive Dennis May. The company projected a first-quarter loss of $5.7 to $6.2 million, which is 16 to 17 cents per share, this missed the 4-cent consensus loss estimate. Comparable sales, likely dropped 5.1%, missing the 2.4% increase that analysts surveyed by Retail Metrics, expected. The company blamed the big shortfall on a 16.7% slump in video sales which are about a third of its total sales, this was in addition to a 21% sales drop in the same category.
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Arena Pharmaceuticals (NASDAQ:ARNA): Under terms of its partnership agreement with Arena, Eisai, the Japanese drug maker, is in charge of selling Belviq in the U.S. Like their U.S. counterparts, Japanese analysts are skeptical about Belviq becoming the blockbuster weight-loss pill that was envisioned by Arena and its shareholders. They are weighing in on the drug’s commercial prospects.
Beazer Homes (NYSE:BZH) has estimated more orders for the third quarter and said they plan to raise $150 million in share offering. In addition to this, the company wants to offer $75 million of its common stock, as well as 3 million tangible equity units.
Cisco (NASDAQ:CSCO): When Cisco Systems introduces an 802.11ac-based access point, it will be the first networking vendor to deliver a 1-gigabit-per-second speed on enterprise wireless networks.
Nuance Communications (NASDAQ:NUAN) announced that BMW will be making “Dragon Drive! Messaging” to be available in the new 2012 BMW 7 Series, BMW 3 Series Touring and BMW 3 Series Active Hybrid vehicles, with additional models to follow. “Dragon Drive! Messaging” is Nuance’s new automotive-grade connected car service that allows voice emails and text messages.
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