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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 26, 2015
09:02 EDTBBYSamsung Galaxy S6, S6 edge to be available in U.S. beginning April 10
Samsung Electronics America (SSNLF) announced the Galaxy S 6 and Galaxy S 6 edge will be available in the U.S. beginning April 10, with pre-orders starting March 27. In the U.S., the Galaxy S 6 and Galaxy S 6 edge will be available in Black Sapphire, White Pearl and Gold Platinum -- in 32GB, 64GB and 128GB2 memory options. AT&T (T), Sprint (S), T-Mobile (TMUS), U.S. Cellular (USM) and Verizon Wireless (VZ) will carry both the Galaxy S 6 and Galaxy S 6 edge, while Boost Mobile, Cricket Wireless and MetroPCS will carry the Galaxy S 6. Samsung Experience Shops at Best Buy (BBY), as well as Amazon.com (AMZN), Costco Wholesale (COST), Samís Club (WMT), Target (TGT) and Walmart will also carry the Galaxy S 6 and Galaxy S 6 edge. Carriers and retailers will confirm specific pricing and availability.
06:01 EDTBBYBest Buy implied volatility of 27 at lower end of index mean range
March 25, 2015
06:05 EDTBBYBest Buy implied volatility of 26 at lower end of index mean range
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March 24, 2015
07:27 EDTBBYTelsey Advisory to hold a conference
2015 Consumer Conference is being held in New York on March 24-25.
March 17, 2015
10:59 EDTBBYBest Buy calls active on activist investor speculation
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10:54 EDTBBYRumor: Best Buy moves up on activist investor speculation
Shares of Best Buy are moving higher amid speculation Carl Icahn may have acquired a stake in the company.
09:05 EDTBBYMicrosoft Band now available at Best Buy, Target, Amazon, Re/code reports
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