Making the list today as measured by your Yahoo Finance Ticker searches are:
Hewlett-Packard (HPQ) - jumping on Barclays raising it’s price target on the company to $38;
Microsoft (MSFT) - popping on news the software giant may release MS Office for the iPad later this month;
DSW Inc. (DSW) - the footwear retailer getting stomped after guidance for the upcoming year missed street estimates;
Choice Hotels (CHH) - the Comfort Inn and Clarion hotel franchisor down a bit after announcing a secondary offering of 3 million shares.
But our top trending ticker today is - Gamestop (GME).
The video game retailer getting zapped after the 800-pound gorilla in the retail world, Walmart (WMT), announced that it would start buying back used video games. Walmart’s CMO said starting March 26th, customers at 3,100 stores will be able to trade in Xbox, Playstation, and Nintendo games. Credit from the trade-ins can be used immediately towards purchasing anything at Walmart, and Walmart intends to pay more for used games than other other buyer, including Gamestop.
The used video game market is huge for Gamestop, as it has dominated the space for the past 15 years, returning $1 billion in trade-in credits to customers just last year. Used games accounts for 30% of Gamestop’s annual sales, and nearly 40% of its profits. With Walmart setting its sights on this lucrative business, Gamestop fans are hoping it won’t be "GAME OVER" for the video game purveyor.
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