It's bad enough that GameStop's
Now even GameStop's bread-and-butter business of buying back used games for a pittance and selling them again at healthy markups is threatened. Best Buy
It's also raising the stakes, offering $20 in Best Buy gift cards on more than 100 popular titles beginning Sunday. Several offline and online retailers have threatened to invade GameStop's high-margin turf, but Best Buy is finally making an aggressive push.
Look at the bright side, GameStop. A new Halo game is coming soon.
Briefly in the news
And now let's take a quick look at some of the other stories that shaped our week.
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Yahoo!
(Nasdaq: YHOO) completed the outsourcing transition by handing over its organic search to Microsoft's(Nasdaq: MSFT) Bing. Somewhere out there, a Yahoo! yodel fades into the mountainside. -
Pacific Sunwear
(Nasdaq: PSUN) isn't any closer to a turnaround, posting a wider operating loss in its latest quarter. Comps fell 10%, which is very problematic when one considers that PacSun's comps fell 24% during the same quarter a year earlier. - Deutsche Bank downgraded shares of Baidu
(Nasdaq: BIDU) , fearing that the stock's capital appreciation is limited in the near term. It's easy to be skeptical on the call, since Wall Street has typically underestimated Baidu's earnings power. -
Trina Solar
(NYSE: TSL) posted better than expected quarterly results, once again validating the attractiveness of the solar energy industry.
Until next week, I remain,
Rick Munarriz