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News Watch
GameStop Drops on Credit Suisse Downgrade (GME) - 2/9/2010 1:41:00 PM

2/9/2010-Shares of GameStop (NYSE:GME) are trading 5.2% lower to $18.66 Tuesday, for the second steepest decline in the S&P 500, after the world's biggest video game retailer was downgraded to Neutral from Outperform at Credit Suisse, citing pricing pressure from Wal-Mart (NYSE:WMT) and Amazon (NASDAQ:AMZN), as well as decrease in demand among casual gamers.

Credit Suisse analyst Gary Balter expects the company to report 2010 EPS of $2.60, which is far higher than consensus estimates of $2.26.


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