Warner Bros. RELAUNCHING Flixster and 3 Morning Hot Stocks Buzzing on the Street

Electronics and appliance store chain Conn’s (NASDAQ:CONN) reports a strong quarter as its same store sales rise 12 percent driven by a 33 percent jump in sales of furniture and mattresses. The retailer, who may have benefited from troubles at competitors such as RadioShack, Sears, Best Buy, and J.C. Penney, also provided healthy guidance for FY12 – same store sales are expected to grow 10-15 percent while EPS could report in the range $1.40 – $1.50.

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Warner Bros. (NYSE:TWX) is relaunching its Flixster service hoping to turn it into the best tool for finding, watching and owning new movies; the web-based movie recommendation service will use social networking and also provide a boost for UltraViolet, the industry-backed cloud movie service.

The DOJ has accused BP (NYSE:BP) and Transocean (NYSE:RIG) of “gross negligence” in interpreting a key pressure test relating to the Deepwater Horizon oil spell. If the charge sticks during the forthcoming January trial, BP might have pay civil damages as high as $21 billion, over four times the current estimate.

Drug store chain Rite Aid (NYSE:RAD) says same-store sales were up 0.4 percent in August, while generic launches took a 819 bps toll on pharmacy sales. Comparable stores saw a growth of 4.5 percent y-on-y in prescription count.

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