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Fly News Breaks for January 4, 2016
GME
Jan 4, 2016 | 07:47 EDT
As previously reported, Sterne Agee CRT analyst Arvind Bhatia downgraded GameStop to Neutral from Buy, as he sees near-term risk from holiday sales that appeared to miss expectations and medium-term risk from digital game downloads gaining share at the cost of physical disc sales. The analyst, who lowered his same-store sales and EPS estimates on GameStop for Q4 and FY16, noted that the company will likely report its holiday period sales next week if it sticks to the reporting schedule of the last two years.
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