BRIEFCASE GUITAR CENTER INC. TO BEAT ESTIMATES.Byline: - Staff and Wire Services Guitar Center Inc. shares jumped Friday, as the company hit a high note with a 2004 earnings forecast topping Wall Street's expectations. The Westlake Village-based chain of instrument stores said it expects to earn $1.77 to $1.93 per share on revenue of $1.42 billion to $1.47 billion in 2004. The average analyst estimate was $1.79 a share, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Thomson First Call. Shares of Guitar Center finished at $32.76, up $4.04, or 14 percent, on heavy volume on the Nasdaq Stock Market Nasdaq stock market The first electronic stock market listing over 5000 companies. The Nasdaq stock market comprises two separate markets, namely the Nasdaq National Market, which trades large, active securities and the Nasdaq Smallcap Market that trades emerging growth companies. . Much of the positive surprise comes from a reduction in interest expense, rather than a major pickup in sales. Goldman Sachs The Goldman Sachs Group, Inc., or simply Goldman Sachs (NYSE: GS) is one of the world's largest global investment banks. Goldman Sachs was founded in 1869, and is headquartered in the Lower Manhattan area of New York City at 85 Broad Street. analyst Matthew Fassler, in a note, said he believes the interest-expense savings amount to 11 cents a share. Stewart lawyers lose civil ruling NEW YORK New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of - A federal judge refused Friday to force the government's star witness in the upcoming trial of Martha Stewart <noinclude></noinclude> Martha Stewart (born Martha Helen Kostyra on August 3, 1941) is an American business magnate, author, editor and homemaking advocate. She is also a former stockbroker and fashion model. to answer questions from the lifestyle maven's lawyers in a separate civil case. The decision by U.S. District Judge John E. Sprizzo prevents Stewart's lawyers from getting a preview of how the witness, former Merrill Lynch assistant Douglas Faneuil, will testify at Stewart's criminal trial. Faneuil has invoked the Fifth Amendment in refusing to answer questions from the Stewart legal team in the civil case, brought against Stewart by shareholders in her media company, Martha Stewart Living Omnimedia Martha Stewart Living Omnimedia Inc. (MSLO, NYSE: MSO) is publishing and content provider founded by Martha Stewart. The Company's business activities center around the domestic arts. In 2005 MSLO reported revenues of US$209.5 million compared to US$187. . Stewart's lawyers had hoped Sprizzo would overrule The refusal by a judge to sustain an objection set forth by an attorney during a trial, such as an objection to a particular question posed to a witness. To make void, annul, supersede, or reject through a subsequent decision or action. Faneuil's assertion of privilege and force him to testify. But the judge declined - and criticized the lawyers for trying to use the civil case to get an edge at the criminal trial. Kmart cuts losses even as sales fall DETROIT - Kmart Holding Corp.'s third-quarter loss narrowed to $23 million, but sales fell sharply for the retailer, which has struggled since emerging from bankruptcy in May. Kmart said Friday that it lost 26 cents per share Cents per share The amount of a mutual fund's dividend or capital gains distributions that a shareholder will receive for each share owned. in the quarter ended Oct. 29. Its predecessor company, Kmart Corp., lost $383 million, or 76 cents a share, in the same quarter last year. Sales tumbled 21.2 percent, to $5 billion from $6.45 billion a year earlier. On a same-store basis, which compares results from stores open at least a year and is considered the best measure of a retailer's health, sales fell 8.6 percent. Kmart attributed the decrease in same-store sales to several companywide promotional events that were held in the third quarter of 2002 and the reduction of midweek advertising circulars this year. The decline in total sales also reflected the closure of 316 stores in the first quarter. |
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