In this report: Regions Financial Corp. (NYSE:RF), Gamestop (NYSE:GME) and Akamai Technologies (NASDAQ:AKAM).
Regions Financial Corp. (NYSE:RF) jumped over 3 percent higher on Monday after The Wall Street Journal reported that the company is close to selling its Morgan Keegan brokerage unit. The article reported that both Raymond James and Stifel Financial are bidding for the division of Regions Financial. Regions Financial is the last major lender to owe the government from its TARP funds and will likely use part of the sale to pay back some of the billions it still owes the Treasury. The company currently trades at $4.56 per share.
Gamestop (NYSE:GME) shares dipped over 3 percent after the company reported nearly flat holiday sales. The company said that it had sales of $3.02 billion for the nine week period which ended on December 31st. Gamestop also reported that sales at stores open at least one year dropped 0.3 percent compared to last year. The company stood by its predictions for the fourth quarter and full year. Gamestop expects to earn$1.66 to $1.76 per share during the fourth quarter while analysts on average expect $1.73 per share earnings. For the full year the company forecasts earnings of $2.82 to $2.92 per share while Wall Street predicts earnings of $2.88 per share. The company currently trades at $24 a share.
Akamai Technologies (NASDAQ:AKAM) shares dipped slightly after receiving mixed reviews by analysts on Monday. The company was upgraded by Jefferies to ‘Hold’ from ‘Underperform’ with a price target of $36 from $21 but it also received a downgrade by analysts a Citigroup. The firm lowered its rating on Akamai to ‘Sell’ from ‘Neutral’. Akamai Technologies currently trades at $32.63 per share.
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