GameStop Corp. – New York symbols GME $56 and GME.B $56

Article Excerpt

GAMESTOP CORP. (New York symbols GME $56 and GME.B $56; Aggressive Growth Portfolio, Consumer sector; Shares outstanding: 75.8 million; Market cap: $4.2 billion; WSSF Rating: Extra risk) sells new and used video game players and software through over 4,600 stores in the United States and 14 other countries. GameStop was a wholly owned subsidiary of Barnes & Noble Inc. up until February 2002. That’s when Barnes & Noble sold its GameStop class A common shares (one vote per share) to the public at $18 each. In November 2004, Barnes & Noble handed out its GameStop class B shares (10 votes per share) to its investors as a special dividend. GameStop now wants to convert the class B shares into class A shares, which would improve liquidity. The conversion requires stockholder approval. In its third fiscal quarter ended October 28, 2006, GameStop earned $0.17 a share (total $13.6 million). The latest earnings included a $3.4 million pre-tax charge on the early retirement of debt,…

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