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By Armando Duke (AXcess News) Houston, TX - RadioShack Corp. (NYSE: RSH) shares rose over 22 percent after the electronics retailer announced that Julian Day would become RadioShack's new chief executive, replacing acting CEO, Claire Babrowski, President of the troubled retailer who held the post of chief executive officer after RadioShack had to replace David Edmondson who resignde after his ethics were questioned. Day, 54, who is credited with walknig Kmart throguh its bankruptcy in 2003, was accepted to the post with enthusiasm by analysts who raised their rating on RadioShack following the news of his appointment. Stifel Nicolaus raised RadioShack's rating to "hold" from "sell" and Raymond Jaems moved RadioShack form "market perform" to "overperform". While both investment banking firms' research departments believe Day has his work cut out for him, their confidence level rose when RadioShack named the turnaround specialist as its new CEO. Shares of RadioShack were up $3.03, or over 22 percent, at $16.79 in intraday trading in New York Friday.
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