Guitar Center surges following strong Q4 outlook (9:41 am ET)
Guitar Center (GTRC: news, chart, profile) is up $2.69, or 16 percent, to $19.55, after the Westlake Village, Calif., music products retailer forecast earnings of 52 to 55 cents a share for the fourth quarter. The company previously anticipated a profit of 51 to 54 cents a share for the period. Sales rose 15.4 percent for the three months ended Dec. 31 to $335 million from $290 million in the same period a year earlier. Same-store sales rose 7 percent for the quarter.
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