Frisco, TX -- (ReleaseWire) -- 06/26/2008 -- Today’s TraderNotes include: Bed Bath & Beyond Inc. (Nasdaq: BBBY), Sonus Networks Inc. (Nasdaq: SONS), The South Financial Group Inc. (Nasdaq: TSFG), Pacific Ethanol Inc. (Nasdaq: PEIX), Xinhua Finance Media Limited (Nasdaq: XFML), American Greetings Corporation (NYSE: AM), IceWEB Inc. (OTCBB: IWEB) and Velocity Express Corporation (Nasdaq: EXP)
“Bed Bath & Beyond Inc. (BBBY) shares climbed nearly 5 percent to $29.86 Thursday morning, still climbing from yesterday’s positive first-quarter profits. Bed Bath & Beyond, together with its subsidiaries, operates a chain of retail stores. It sells a range of domestic merchandise, such as bed linens and related items, bath items, and kitchen textiles; and home furnishings, including kitchen and tabletop items, fine tabletop, basic housewares and general home furnishings.
“The company posted better-than-expected first quarter profit yesterday as sales rose in a challenging retail environment. For the first quarter, sales rose about 6 percent to $1.65 billion, better than the $1.62 billion analysts expected. Comparable-store sales, or those at stores open at least a year, gained 0.8 percent.”
“Sonus Networks Inc. (SONS) shares fell nearly 4 percent to $3.71 in early Thursday trading. Sonus provides voice infrastructure solutions for wireline and wireless service providers. Its products are infrastructure equipment and software that enable voice services to be delivered over Internet protocol (IP) packet-based networks and are built on the distributed, IP-based principles embraced by the IP Multimedia Subsystem (IMS) architecture.
“Sonus recently said it is in ongoing talks with Legatum Capital to address dissident shareholder complaints about board representation. The company said members of its management and board met with Legatum after the company's annual meeting on Friday to discuss the shareholder's complaints.”
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Beacon Equity Research Disclosure
The analysts contributing to this report do not hold any shares of Bed Bath & Beyond Inc. (Nasdaq: BBBY). Additionally, the analysts contributing to this report certify that the views expressed herein accurately reflect the analysts' personal views as to the subject securities and issuers. The analyst(s) writing this report recognize and aspire to all of the CFA Institute Guidelines for Independent Research. Beacon Equity Research (“Beacon”) certifies that no part of the analysts' compensation was, is, or will be, directly or indirectly, related to the specific recommendation or views expressed by the analysts in the report. This report is based on data obtained from sources we believe to be reliable, but is not guaranteed as to accuracy and does not purport to be complete. As such, the report should not be construed as advice designed to meet the particular investment needs of any investor. Any opinions expressed herein are subject to change.