For Immediate Release
Chicago, IL - April 17, 2012 - Zacks.com announces the list of
stocks featured in the Analyst Blog. Every day the Zacks Equity
Research analysts discuss the latest news and events impacting
stocks and the financial markets. Stocks recently featured in the
blog include
Best Buy Company Inc
. (
BBY
),
Computer Sciences Corporation
(
CSC
),
Cisco Systems Inc.
(
CSCO
),
Accenture plc
(
ACN
) and
Hewlett-Packard Company
(
HPQ
).
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Here are highlights from Monday's Analyst Blog:
Best Buy to Shut Some Big Boxes
Best Buy Company Inc
. (
BBY
), the leading specialty retailer of consumer electronic products,
announced the locations of few big box stores that it intends to
close, The Associated Press reported.
The company will pull down shutters on some big box stores,
which are not contributing to its growth, while modifications of
others are also on the cards. The company announced the
closing of 50 U.S. Best Buy big box stores in fiscal 2013,
including six in Illinois, seven in California and six in
Minnesota.
Earlier, Best Buy announced a string of strategic measures to
boost its long-term profitability. With its multi-channel strategy,
the company intends to modify its store formats while increasing
its global footprints.
Best Buy, through its cost reduction program, intends to
generate $800 million in costs saving by fiscal 2015, including
$250 million in fiscal 2013. The company plans to open 100
U.S. Best Buy Mobile small format stores in fiscal 2013 and
increase the total number of such stores to 600-800 by fiscal
2016.
Going forward, Best Buy plans to accelerate the growth of its
business in China while boosting its connections and services and
digital capabilities. Best Buy expects to open 50 new Five Star
stores in China in fiscal 2013, while it plans to generate $4
billion in sales and increase the store count to 400-500 by fiscal
2016.
The company expects to generate a 15% increase in its Domestic
online sales in fiscal 2013. Moreover, it targets $4 billion online
sales by fiscal 2016. Revenues in Domestic segment services
category are expected to increase by 10% in fiscal 2013.
CSC Embarking on Canadian Expansion
Computing major
Computer Sciences Corporation
(
CSC
) recently revealed plans of offering its unified communications
and collaboration (
UCC
) solutions suite to Canadian customers.
Based on its multi-paltform integration technique, CSC has
developed this service in collaboration with networking major
Cisco Systems Inc.
(
CSCO
). This service is expected to enhance productivity and also help
in the decision making process, while reducing costs.
This whole facility is built on the UCC platform, and serves as
the underlying platform for a wide range of collaboration
capabilities and facilitates an efficient communication process
with the business customers.
The company has also expanded its cloud computing operation in
the US. CSC's BizCloud is also available in Canada and this
is the first on-premise private cloud ready for workloads in 10
weeks. This new service will offer the benefits of privacy,
security and control that are the hallmarks of a private cloud,
while retaining the economies of a public cloud.
These facilities, when combined together, will result in cost
savings for the customers, who are looking for additional benefits
without incurring huge additional cost. The customer pays only for
video hours delivered as a service.
CSC has never had much difficulty in attracting new takers.
Apart from government orders, the company has also won some big
ticket private orders in the recent past. Additionally, CSC has a
large project pipeline and continues to augment it at regular
intervals.
CSC has won a series of deals over the past six months although
this has not yet had a noticeable impact on results. The company's
third quarter 2012 results were modest, with EPS exceeding our
expectation. Although revenues declined on a year-over-year basis,
the flow of new business improved substantially from the year-ago
period.
Moreover, the company faces intense competition in the IT and
cloud computing space from both small and big players such as
Accenture plc
(
ACN
) and
Hewlett-Packard Company
(
HPQ
). This apart, European exposure and strained federal budgets; may
pose considerable challenges for the company.
Currently, CSC holds a Zacks #5 Rank (implying a short-term
Strong-Sell rating).
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ACCENTURE PLC (
ACN
): Free Stock Analysis Report
BEST BUY (
BBY
): Free Stock Analysis Report
COMP SCIENCE (
CSC
): Free Stock Analysis Report
CISCO SYSTEMS (
CSCO
): Free Stock Analysis Report
HEWLETT PACKARD (HPQ): Free Stock Analysis
Report
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