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Technical Trade Alerts on Market Movers: CC, KBH, CVX, LVLT, RMBS, APOL
01/12/2009 [ACCESSWIRE] DALLAS, Texas – Beacon Equity Research announces the release of Trade Alerts covering Market Movers: Circuit City Stores (NYSE: CC), KB Home (NYSE: KBH), Chevron Corp. (NSYE: CVX), Level 3 Communications Inc. (Nasdaq: LVLT), Rambus Inc. (Nasdaq: RMBS) and Apollo Group Inc. (Nasdaq: APOL).
In the Trade Alert, the author highlights Circuit City’s discussion with two companies on the possible sale of the electronics chain:
“Circuit City Stores (CC) shares remained at 11 cents Friday, unchanged from its previous close. Circuit City Stores is a leading specialty retailer of consumer electronics and related services. … Virginia-based Circuit City is presently engaging in significant discussions with two parties about possibly acquiring the consumer electronics chain. On January 5, 2009, the company filed a motion with the Bankruptcy Court that seeks approval of procedures that would formally put the company up for sale, as a going concern, as separate business units or as individual assets - including the sale of inventory.”
The Trade Alert author also featured KB Home’s reporting sales off 56% and expecting prices to fall further:
“KB Home (KBH) shares closed Friday at $14.17, down 2.75% from its previous close of $14.57. KB Home constructs and sells homes in the United States. It also offers mortgage services in a joint venture with Countrywide KB Home Loans. … Despite managing to stem its quarterly losses, the homebuilder saw sales plummet by 56% and said it expects home prices to fall further this year and tougher times ahead for the industry. Sales totaled $919 million, down from $2.07 billion in the 2007 fourth quarter. The average sale price of its homes slipped 6% to $232,200 in the fourth quarter.”
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Source: BeaconEquity.com
Beacon Equity Research
Jeff Bishop, (469)-252-3505
press@beaconequity.com
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