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Monday A.M. Report

Best Buy to open first U.K. store in May: Best Buy Co. Inc. will open its first British retail stores this spring, starting with a 50,000-square-foot store in Thurrock this May. That location will be followed by June openings in Hedge End (near Southampton) and Merry Hill (near Birmingham), then a store in Aintree (near Liverpool) soon thereafter. A fifth U.K. location is slated to open in Croyndon this fall. Read full story

Recession deals Canterbury a Q4 loss: Canterbury Park Holding Corp.’s posted a loss in the fourth quarter of 2009, due to declining revenue as consumers reduced discretionary spending amid the recession. The Shakopee-based gaming company had a net loss of $99,100, or 2 cents per share, for the quarter ended Dec. 31. That compares to a profit of $15,514, or less than 1 cent per share, in the comparable period last year. Read full story

3M expects $85M charge for health reform: 3M Co. said Friday it expects to record a one-time charge of between $85 million and $90 million, or approximately 12 cents per share, in the first quarter of 2010 as a result of the health care reform bill that passed earlier this week. Maplewood-based 3M said the charge is due to a reduction in the value of the the company’s deferred tax asset as a result of a change to the tax treatment of Medicare Part D reimbursements. The company’s January earnings forecast for 2010 did not reflect the impact of the new law. Read full story

Donaldson announces stock repurchase plan: Donaldson Co. Inc.’s board has authorized the repurchase of as many of 8 million shares of common stock, the company said Friday. The new repurchase program replaces Donaldson’s 2006 authority, under which the company bought back 7.7 million shares out of the 8 million authorized. Read full story

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