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Stock Market & Financial Investment News

News Breaks
November 19, 2012
11:40 EDTBBYEarnings Preview: Best Buy may offer comments on Schulze in Q3 report
Best Buy (BBY) is expected to report Q3 earnings before the market open on Tuesday, November 20 with a conference call scheduled for 9:00 am ET. Analysts are looking for a profit of 12c on revenue of $10.73B. The consensus range is 4c-23c for EPS, and revenue of $10.43B-$11.48B, according to First Call. On August 21, Best Buy suspended its earnings guidance due to lowered expectations for industry wide sales and the uncertainty associated with several key product launches expected in 2H13. In addition, the company named Hubert Joly as CEO, who began his role in September. In its Q2 report, Best Buy said it would suspend buybacks for FY13 for the CEO transition and forecast annual free cash flow of $1.25B-$1.5B. On the associated conference call, Best Buy said that trends seen in Q2 won't extend to 2H "in the same way" and that it wasn't expecting major improvements in key international businesses. During the quarter, Joly outlined turnaround plans, which include cost cutting, rethinking store square footage, improving customer service in stores and creating a better online experience. Joly says Best Buy aspires to achieve over time an operating margin of 5%-6% and a return on invested capital of 13%-15%. Best Buy also hired Sharon McCollam, the retired COO and CFO of Williams-Sonoma (WSM), as its new Chief Administrative Officer and CFO. Bloomberg recently said founder Richard Schulze is still exploring a buyout offer and will likely seek a 30-day extension to conduct due diligence. The New York Post said sources close to the company believe Best Buy is open to considering a lowered bid from Schulze, possibly at around $20 per share. Analysts and investors will listen for comments from the company on the status of Schulze's bid, as well as any updates on its turnaround plan and how it views the holiday season. The company may also note any impact it is seeing on Q4 from Hurricane Sandy. Oppenheimer believes that Best Buy's new strategy fails to aggressively address the two factors that have hurt the company's results in recent years: price competition from online retailers and an ineffective store infrastructure.
News For BBY From The Last 14 Days
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March 2, 2015
15:23 EDTBBYNotable companies reporting before tomorrow's open
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14:32 EDTBBYBest Buy March weekly 38.5 straddle priced for 7% movement into Q4
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14:28 EDTBBYBest Buy technical comments before results
The stock has had a strong advance over the prior year, but that has stalled somewhat heading into earnings in the last few months. The shares have been in a trading range largely bound by $35 at the low, and $40 at the high. Those two levels can help up project where price may go following results. A breakout above the $40 area, at the 52-week high, would be bullish. Based on the size of the trading range, we could expect a move to the $45 area would then be in the cards, or possibly better depending on the degree of positive surprise. If the news is bearish and price breaks down below $35, the following support levels could become downside objectives: $33.17, $31.30.
07:59 EDTBBYBest Buy volatility elevated into Q4 and outlook
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March 1, 2015
17:44 EDTBBYSprint, Best Buy announce 'Best Buy One Plan'
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February 27, 2015
09:46 EDTBBYBest Buy management to meet with JPMorgan
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February 26, 2015
12:04 EDTBBYBest Buy volatility increases into Q4 and outlook
Best Buy March weekly call option implied volatility is at 60, March is at 42, April is at 35, June is at 34; compared to its 26-week average of 41 according to Track Data, suggesting large near term price movement into the expected release Q4 results on March 3.
February 18, 2015
09:32 EDTBBYComarco files patent suit against Best Buy
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