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Stock Market & Financial Investment News

News Breaks
January 16, 2014
07:04 EDTBBYBest Buy reports Holiday revenue $11.45B
The company said, “When we entered the holiday season, we said that price competitiveness was table stakes and an intensely promotional holiday season is what unfolded. In both channels, the promotional intensity that began with Black Friday continued throughout the period, which led us and our competitors to answer one question – do we make the incremental investment necessary to be price competitive and defend our market share? For us, there was only one answer. To advance our Renew Blue transformation, it was imperative that we live up to our customer promises – and one of these promises is to offer our customers competitive prices. This investment in pricing did come with a higher-than-expected cost, and we now estimate our fourth quarter non-GAAP operating income rate will be 175 to 185 basis points lower than last year. However, our price competitiveness combined with our improved customer experience both in-store and online, as demonstrated by a 400 basis point improvement in our Net Promoter Score, resulted in a market share gain in an industry that NPD says declined 240 basis points during the holiday period. We also made significant progress against several other Renew Blue priorities that will leave us well-positioned as we enter fiscal 2015."
News For BBY From The Last 14 Days
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August 28, 2015
10:26 EDTBBYOptions with decreasing implied volatility
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August 27, 2015
06:01 EDTBBYStocks with implied volatility below IV index mean; BBY TEVA
Stocks with implied volatility below IV index mean; Best Buy (BBY) 34, Teva (TEVA) 33 according to iVolatility.
August 26, 2015
10:00 EDTBBYOn The Fly: Analyst Upgrade Summary
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06:35 EDTBBYBest Buy upgraded to Strong Buy from Market Perform at Raymond James
Raymond James upgraded Best Buy to Strong Buy from Market Perform and established a $40 price target. The firm said Best Buy's company specific improvements are beginning to offset industry challenges, creating an opportunity to deliver FY16 upside. Raymond James said Best Buy's revenue outlook is beginning to improve and inventory product is starting to recover, which will result in improved earnings.
05:56 EDTBBYStocks with implied volatility below IV index mean; BBY TEVA
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August 25, 2015
16:43 EDTBBYOn The Fly: Top stock stories for Tuesday
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12:20 EDTBBYOn The Fly: Top stock stories at midday
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09:13 EDTBBYOn The Fly: Pre-market Movers
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08:51 EDTBBYBest Buy says 'substantial' amount of leases expiring this year
Best Buy CFO Sharon McCollam said, there are no stores that have negative cash flow but there may be additional store closures.
08:43 EDTBBYBest Buy to sell Apple Care in stores this quarter
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07:08 EDTBBYBest Buy sees Q3 flat to low-single digit domestic revenue growth
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07:06 EDTBBYBest Buy reports Q2 domestic SSS ex-items up 2.7%
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07:02 EDTBBYBest Buy sees no material changes in consumer spending in Q3
Sharon McCollam, Best Buy EVP, CAO and CFO, commented, "It is difficult to know, though, if the recent volatility in the financial markets will affect overall consumer spending. To date, however, we have not seen a measurable impact versus our original expectations. As such, our outlook assumes there will be no material changes in consumer spending in the third quarter. With that said, our year-over-year non-GAAP outlook for Q3 FY16 is as follows. In the Domestic business we are expecting (1) flat to low-single digit revenue growth; and (2) an approximately flat operating income rate change driven by a higher gross profit rate offset by increased SG&A due to inflation and growth-related investments. In the International business, due to the ongoing impacts of the Canadian brand consolidation and foreign currency, we are expecting (1) an International revenue decline of approximately 30% and (2) an International non-GAAP operating income rate in the range of negative 2.5% to negative 3.5%."
07:01 EDTBBYBest Buy reports Q2 adjusted continuing ops EPS 49c, consensus 34c
Reports Q2 revenue $8.53B, consensus $8.29B.
August 24, 2015
15:09 EDTBBYNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Best Buy (BBY), consensus 34c... Toll Brothers (TOL), consensus 49c... Valspar (VAL), consensus $1.26... DSW (DSW), consensus 42c... Children's Place (PLCE), consensus (33c).
12:29 EDTBBYBest Buy technical comments ahead of results
The shares have been trading in a bearish price channel since a peak of price in March of this year. If the news continues to be bearish, the current trend will likely continue. Next support below the current price of $30.53 is at the $29.50 area, the low of the current price channel. If the news is a sharp negative surprise, next supports will be at $28.11, $27.17, and $26.60. If the news is a bullish surprise, the top of the price channel at $32.78 would be the first important upside objective. It would take a breakout above the channel top to turn the trend back toward bullish. Next resistance above the channel would be at $33.75.
11:31 EDTBBYBest Buy volatility increases into Q2 and outlook
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August 21, 2015
06:31 EDTBBYBest Buy volatility into Q2 and outlook
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August 20, 2015
19:53 EDTBBYRetailers, others question heightened fees at Port of Oakland, WSJ says
After the Port of Oakland said it is considering implementing additional fees, the Retail Industry Leaders Association told the Federal Maritime Commission that it is "troubled" due to the lack of details regarding the fees, according to the Wall Street Journal. The retailer group also questioned the general effectiveness of such a program, and the Agriculture Transportation Coalition echoed the criticism, said the report. Note that executives from Lowe's (LOW), Best Buy (BBY), Target (TGT), Coca-Cola (KO), J.C. Penney (JCP), Tyson Foods (TSN), SunOpta (STKL), and Whole Foods (WFM) serve on the boards of the aforementioned associations. Reference Link
09:42 EDTBBYBest Buy traffic and ticket trends improved in Q2, says ITG Research
ITG Research said Best Buy's traffic and ticket trends improve in Q2 versus Q1 driven by a mix shift towards big ticket items. The firm's Q2 domestic revenue estimates of $7.8B remains above consensus of $7.657B.
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