Best Buy Set to Open Higher on Earnings

This morning, Best Buy (BBY) is set to have its biggest up gap on earnings since at least 2001. The stock is currently trading up $2.57 (10.95%) in the pre-market after beating EPS estimates by 11 cents ($0.35 vs $0.24).

We searched the Bespoke Interactive Earnings Report Database to find all prior up gaps for Best Buy on earnings to see how the stock typically trades from the open to the close when it opens higher. As shown below, since 2001, Best Buy has gapped higher on earnings 12 times (today makes 13). On average, the stock has averaged a further gain of 0.67% from the open to the close on these days where it up gaps, with positive returns 67% of the time.

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