'No Comments' All Around On Lampert, Circuit City Interest

Summary

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GREENWICH, Conn. (HedgeWorld.com) - Rumors that ESL Investments, the hedge fund vehicle of Edward S. Lampert, is taking a position on Circuit City Stores Inc., Richmond, Va., the electronics retailer, can't be confirmed, but they may be responsible for a recent run-up in Circuit City's value.

Circuit City's stock was at US$9 a year ago. It rose to US$13 by Thanksgiving, then headed south for the winter on disappointing third-quarter earnings numbers, returning to the neighborhood of US$9 in the days after New Year's Day. It rose slowly through the subsequent months, reaching US$12.25 on July 12, which is about when the rumor mill seems to have kicked in.

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'No Comments' All Around On Lampert, Circuit City Interest

Citigroup Smith Barney analyst Bill Sims wrote a research note on Circuit City, posted on the his comp...

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