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The jump soundly beat Wall Street estimates. Analysts polled by Thomson Financial had expected an increase of 7.9 percent. Total sales for the month ended April 29 totaled $207.8 million, up 30 percent from $159.4 million in April 2005. For the year through the end of April, store sales were up 6 percent from last year, while net sales increased 20 percent to $657.3 million from $546. ago period.

Stock Investing Course The NASD said Thursday that it levied $2.9 million in fines against JP Morgan, Goldman Sachs and Morgan Stanley for IPO lock-up violations following sales by them of restricted securities.

He also successfully advised a real estate company on refinancing, which led to a $275 million IPO offering.

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Journal Prime Rate Street Wall June 10, 2005 (AXcess News) New York - The NASD said Thursday that it levied $2.9 million in fines against JP Morgan, Goldman Sachs and Morgan Stanley for IPO lock-up violations following sales by them of restricted securities.

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Stock Market News The NASD censured the firms and ordered Morgan Stanley to pay a fine of $150,000 and disgorgement of more than $2.5 million in ill-gotten profits. J.P. Morgan was ordered to pay a fine $150,000 and Goldman Sachs was fined $125,000.

Stock Investing Basics "NASD's rules that regulate the underwriting process, including lock-up requirements, ensure that the underwriting terms and arrangements are fair and reasonable," said NASD Vice Chairman Mary Schapiro. "Lock-up requirements may be imposed to bring underwriting compensation into compliance with NASD guidelines and to protect investors in IPOs from the potential for dilution and manipulation if underwriters were to sell large amounts of an IPO issuer's shares into the aftermarket. These firms' failure to have policies in place to ensure compliance with the rules and to minimize the opportunity for underwriters and related persons to realize a quick profit from the sale of pre-IPO shares hurt the integrity of the underwriting process and the confidence of investors."Entities affiliated with Morgan Stanley sold shares in two offerings, Breakaway Solutions, Inc. and AsiaInfo Holdings, Inc., prior to the expiration of the one-year lock-up period. As a result of the sale of these securities prior to the expiration of the lock-up period, Morgan Stanley received additional net profits of over $2.5 million.

Stock Investing Software Five individuals related to employees of Goldman Sachs sold shares in one offering, PlanetRx.com, Inc., prior to the expiration of the lock-up periods.NASD's action against J.P. Morgan was taken against the firm as successor-in-interest to Hambrecht & Quist.; An entity affiliated with Hambrecht & Quist, and officers of the firm, sold shares in four offerings - PlanetRx.com, coolsavings.com, Inc., Net2Phone, Inc. and Liberate Technologies - prior to the expiration of the lock-up periods.

Stock Market Trading Each of the firms settled the actions without admitting or denying the allegations.

Stock Investing For Dummy Source: nasd.com

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