(By Salman - iStockAnalyst Writer)Thanks to several sideways trading sessions, by and large, it has been an uneventful week for stocks. However, few stocks have still managed to eke out impressive gains.
Below we
highlight few individual stocks that have outperformed this week.
Best Buy Co. Inc. (NASDAQ:
BBY): Shares of the biggest US retailer got a big boost following upbeat comments Piper Jaffray analyst Mitchell Kaiser. "We have confidence in our increased Q2 estimates as our checks indicate an accelerating comp trend as the quarter progressed, driven by strength in mobile phones, computing and flat panel TVs" wrote Kaiser. The retailer is also in the process of offering key game discounts to its customers, with shoppers purchasing any full price Xbox 360 game then able to buy a second for half price. The company is scheduled to report their fiscal second quarter 2010 results before the market opens on Tuesday, September 15th. Analysts currently expect Best Buy to report earnings of 41 cents a share on revenue of 10.76 billion. Shares are up almost 6% this week.
Danaher Corp. (NYSE:
DHR): Shares of Danaher Corp. rallied early this week after the maker of dental X-ray machines and Craftsman tools agreed to buy assets from MDS Inc. (NYSE:
MDZ) and Life Technologies Corp. for about $1.1 billion to expand its medical-technology business. The acquisitions is expected to expand the division's revenue by more than $650 million.
The company also announced it will eliminate 1,000 more jobs and shut 14 more factories in addition to plans announced in April. In all, the company will reduce 3,330 jobs and eliminate 30 facilities as it increases its 2009 restructuring spending to as much as $250 million. The company said in a statement that the latest actions will reduce costs by about $220 million a year. It had had previously expected restructuring costs of $150 million to $170 million this year. Shares of Danaher have gained rughly 8% this week.
ArcSight Inc. (NASDAQ:
ARST): The company recently reported stronger-than-expected fiscal first quarter results, sending shares over 20% for the week. For the quarter ended July 31, ArcSight reported that it swung to a profit of $1 million, or 3 cents a share, compared with a loss of $1.3 million, or 4 cents a share, in the year-ago quarter. Excluding stock-based compensation, acquisition-related costs and other items, earnings rose to 9 cents a share from one cent a share last year. Revenue jumped 25% to $34.6 million.
