Peter Caruso
Peter Caruso
The 1974 Toronto municipal election was held on December 2, 1974 in Metropolitan Toronto, Ontario, Canada. Mayors, controllers, city councillors and school board trustees were elected in the municipalities of Toronto, York, East York, North York, Etobicoke and Scarborough...
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The stock will likely remain under pressure in the very near term due to the lowered growth rate for earnings per share. However, we would use the weakness in particular as a buying opportunity.
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We believe Circuit City will not have a good Christmas or first quarter of next year. We think that there are more shoes to drop in terms of sales with Circuit City, especially when the oil-tax hike takes effect in the first quarter.
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We continue to urge investors to switch out of Circuit City and into Best Buy, which we believe is a primary beneficiary of customer migration from the Circuit City remodeling process.
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What's been holding (Tandy) back is the volatility of the computer business over the last six months or so. The sale is going to be extremely positive.
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We believe that one of the reasons that CC earnings are imploding is because Best Buy is opening up powerful stores in large metropolitan markets, particularly in New York. We believe capacity will get worse. Best Buy has a large amount of cash and they are ramping up their expansion to try to pre-empt CC's turnaround.
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The life cycle of toys gets shorter and shorter as kids' attention spans get shorter and shorter.