Best Buy Co. (BBY) - NYSE
  • Aug. 21, 2012, 8:04 AM
    Best Buy (BBY): Q2 EPS of $0.20 misses by $0.11. Revenue of $10.5B (-3% Y/Y) misses by $150M. Shares -8.5% premarket. (PR)
    | Aug. 21, 2012, 8:04 AM | 2 Comments
  • Aug. 21, 2012, 12:05 AM
    Notable earnings before Tuesday’s open: BBY, BKS, MDT, TSL
    | Aug. 21, 2012, 12:05 AM
  • Aug. 20, 2012, 5:30 PM
    Notable earnings before Tuesday’s open: BBY, BKS, MDT, TSL
    | Aug. 20, 2012, 5:30 PM
  • Aug. 20, 2012, 11:43 AM

    Richard Schulze takes a shot at Best Buy's (BBY) decision to hire turnaround specialist Hubert Joly as its CEO, saying the company needs a proven leadership team with deep retail experience and knowledge of Best Buy. Though it sounds a bit like sour grapes after the company for the most part spurred its ex-founder, Schulze was correct with the part of his statement where he added value is eroding. Best Buy 6.8% lower on the day.

    | Aug. 20, 2012, 11:43 AM | 4 Comments
  • Aug. 20, 2012, 9:10 AM
    Premarket gainers: CVH +19%.
    Losers: ZAGG -13%. PSTI -6%. BBY -6%. LOW -5%.
    | Aug. 20, 2012, 9:10 AM | 1 Comment
  • Aug. 20, 2012, 2:47 AM

    Best Buy (BBY) says founder Richard Schulze turns down an offer to carry out due diligence and that gives him 60 days to formulate a deal to take the company private. Schulze could then take his offer directly to shareholders in January if the board rejects his bid. Schulze and his team are "shocked" the Best Buy statement, Reuters reports, as they thought they were in talks about due diligence. (PR) (New CEO)

    | Aug. 20, 2012, 2:47 AM
  • Aug. 20, 2012, 12:44 AM

    Best Buy's (BBY) new CEO is Hubert Joly, who stepped down from that job at Carlson (parent of T.G.I. Friday's and Radisson) today to assume the new post. With a turnaround reputation, Joly will need to manage the ongoing dealings with BBY founder Richard Schulze, who's trying to take the company private.

    | Aug. 20, 2012, 12:44 AM | 3 Comments
  • Aug. 17, 2012, 9:54 AM

    Best Buy (BBY -0.5%) and founder Richard Schulze disagree over the nuances of Minnesota law. After Schulze cited rules that prevented him from disclosing his potential financial partners for a buyout, the company fired back that he could in fact name names if he so desired. The bigger issue: Pinning down Best Buy's debt load to see if financing can actually get lined up.

    | Aug. 17, 2012, 9:54 AM | 1 Comment
  • Aug. 16, 2012, 9:12 AM

    Best Buy (BBY) founder Richard Schulze sends another letter to the company's board attempting to sway it that his takeover bid is the ubiquitous "win-win" scenario. Once again, Schulze asks to see Best Buy's books and to be granted permission to form an investor group that will comply with Minnesota law. Shares of BBY +1.9% premarket.

    | Aug. 16, 2012, 9:12 AM | 1 Comment
  • Aug. 15, 2012, 3:05 AM
    Fourteen leading retailers are expected to today unveil the Merchant Customer Exchange (MCX), an initiative to jointly develop a mobile-payments network that will compete with those from Google (GOOG) and cellular carriers, the WSJ reports. The retailers include Wal-Mart (WMT), Target (TGT), Best Buy (BBY) and Lowe's (LOW).
    | Aug. 15, 2012, 3:05 AM
  • Aug. 10, 2012, 11:41 AM

    Under the radar: Target (TGT -0.2%) says all its stores in the Denver area will feature Geek Squad tech experts and services. Analyst Burt Flickinger calls it a very smart and strategic initiative for both retailers, with TGT potentially selling more high-end consumer electronics and Best Buy (BBY -0.3%) improving its reputation for technical services.

    | Aug. 10, 2012, 11:41 AM | 1 Comment
  • Aug. 9, 2012, 7:03 AM

    Best Buy (BBY) looks like a steal at sub-$20 prices, according to SA author J Mintzmyer. If a buyout offer goes through at $26 a quick 30% profit could be booked - while the "real" revenue-solid Best Buy trading at 10X its forward P/E should trade at a lush $35-$38.

    | Aug. 9, 2012, 7:03 AM | 3 Comments
  • Aug. 8, 2012, 12:41 PM

    The board at Best Buy (BBY +0.6%) wants to wait until after the company's earnings report release, scheduled for August 21, to send in bankers to talk to founder Richard Schulze's buyout team again. At the first go-around it became apparent that Schulze planned to lower prices at Best Buy without any major cost-cutting, a move that a private company could pull off easier than a public one. He would also like to Apple-ify the BBY shopping experience, a la JCP's Ron Johnson.

    | Aug. 8, 2012, 12:41 PM | 2 Comments
  • Aug. 7, 2012, 1:13 PM

    Best Buy (BBY -1.1%) falls off as enthusiasm over a potential buyout fades a bit. While the first analyst take on the deal was that founder Richard Schulze faced an uphill battle landing financing, Jefferies' Daniel Blinder goes a step further and says the deal price is far too low. In a nutshell, the analyst says the ultimate takeout bid would have to be in the upper $20s to lower $30s to give investors a large enough risk premium to allow for BBY's complicated 2-3 year turnaround.

    | Aug. 7, 2012, 1:13 PM
  • Aug. 6, 2012, 3:48 PM
    S&P cuts its rating on Best Buy (BBY +15.1%) to BB+ from BBB-, saying a buyout led by founder Richard Schulze would "materially weaken" the company with the substantial amount of debt it would add to the retailer's balance sheet. The ratings agency says depending upon the nature of a finalized buyout, it could lower its ratings by several more notches.
    | Aug. 6, 2012, 3:48 PM | 11 Comments
  • Aug. 6, 2012, 1:57 PM
    It's not just Sharp (SHCAY.PK) that's feeling the pain caused by a weak TV market: Sony (SNE), Samsung (SSNLF.PK), Panasonic (PC), and LG have all significantly lowered their 2012 sales targets. Sony's target has dropped by 4M to 15.5M, and Samsung's by 10M to 40M. The ripple effects are already being felt by everyone from panel makers (AUO, LPL) to component suppliers (GLW, NXPI, STM) to retailers (HGG, BBY, CONN).
    | Aug. 6, 2012, 1:57 PM | 4 Comments
Company Description
Best Buy Co., Inc. is a multinational retailer, which provides consumer electronics, home office products, entertainment products, appliances and related services. The company operates through two business segments: Domestic and International. The Domestic segment is comprised of the operations... More
Sector: Services
Industry: Electronics Stores
Country: United States