Best Buy Co. (BBY) - NYSE
  • 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
  • Aug. 6, 2012, 10:58 AM
    Shares of Best Buy (BBY +15.5%) settle back a bit from earlier highs as the company confirms receiving an offer from Richard Schulze to buy out shareholders at $24-$26 a share. The Best Buy founder will need to raise $1B-$2B from P-E firms and $7B-$8B in debt to make a deal fly, according to BB&T Capital Markets.
    | Aug. 6, 2012, 10:58 AM
  • Aug. 6, 2012, 9:05 AM

    A letter sent by Best Buy founder Richard Schulze to the company's board says Credit Suisse is "confident" it can scrap together the financing needed to help take the company private. NBG's Brian Sozzi warns the unwillingness of board to cooperate signals a buyout is "no slam dunk" as the retailer's steep challenges still remain. BBY +23.1% to $21.86, below the reported buyout range of $24-$26.

    | Aug. 6, 2012, 9:05 AM | 2 Comments
  • Aug. 6, 2012, 8:32 AM

    Best Buy (BBY) moves up 20.1% premarket off of a report that founder Richard Schulze has put together a buyout offer at $24-26 per share.

    | Aug. 6, 2012, 8:32 AM | 2 Comments
  • Aug. 1, 2012, 12:45 PM
    Should Amazon (AMZN -0.4%) purchase Best Buy (BBY +0.3%)? Now that the state sales tax issue isn't a major consideration, the question is getting bandied around with a bit more weight. Though the thought of tackling the overheard of +1K brick-and-mortar stores may bring on a migraine for shareholders, having its own showroom (legitimately) and an extra $50B in revenue does have advantages.
    | Aug. 1, 2012, 12:45 PM | 16 Comments
  • Jul. 31, 2012, 11:35 AM

    A survey from Deloitte tips off that the back-to-school shopping season could be a pleasant surprise for retailers such as OfficeMax (OMX -0.7%), Office Depot (ODP +1.4%), and Staples (SPLS +0.1%). A majority of respondents indicate they plan to spend more this year on school supplies, mirroring the results from a NRF poll of a couple weeks ago. If consumers follow through with the extra buying, especially electronics, the back-to-school bounce could also be felt by RSH, WMT, COST, BBY, and TGT.

    | Jul. 31, 2012, 11:35 AM
  • Jul. 30, 2012, 10:35 AM
    Best Buy (BBY +0.9%) gives up its gains lickety-split after some early morning excitement over founder Richard Schulze assembling his own team to right the ship. Shares could be reacting to a report aired on Bloomberg Radio raising questions about some roadblocks with Minnesota law that could impede a leveraged buyout.
    | Jul. 30, 2012, 10:35 AM
  • Jul. 30, 2012, 9:20 AM

    Back to the future: Best Buy (BBY) founder Richard Schulze's plan to retake his company includes bringing back ex-CEO Brad Anderson to help lead a turnaround, according to sources. Insiders say that Schulze isn't just blowing smoke, but is "serious as a heart attack" over his efforts to bring P-E firms on board with his bid. BBY +6.3% premarket.

    | Jul. 30, 2012, 9:20 AM
  • Jul. 30, 2012, 9:10 AM
    Premarket gainers: SHAW +65%. CDTI +60%. VRML +14%. ATPG +11%. OCZ +11%. BBY +8%. EXEL +5%. ACI +5%. MDR +5%.
    Losers: PGNX -44%. SLXP -12%. STP -11%. CBI -10%.
    | Jul. 30, 2012, 9:10 AM
  • Jul. 30, 2012, 8:58 AM

    Best Buy (BBY) founder Richard Schulze appears to be moving forward with his plan to buy out the company with a little leveraging help. The exec is reportedly putting together a management team in the event his bid to retake his company is successful. Shares of BBY +7.8% premarket.

    | Jul. 30, 2012, 8:58 AM
  • Jul. 24, 2012, 11:37 AM

    Seeing "unpriced upside in the possibility that the election changes the political landscape," David Einhorn's Greenlight Capital initiates positions in Cigna (CI) and Coventry Health Care (CVH). The fund has given up on DELL and Best Buy (BBY).

    | Jul. 24, 2012, 11:37 AM
  • Jul. 19, 2012, 7:23 AM

    The National Retail Federation estimates back-to-school spending will increase 14% this year, a mark that would represent the best pace since the survey began in 2003. Nearly 60% of parents will invest in some sort of electronics, up considerably from last year's level of electronics spending. On watch for a boost: WMT, TGT, BBY, ODP, OMX, SPLS, RSH.

    | Jul. 19, 2012, 7:23 AM | 1 Comment
  • Jul. 16, 2012, 1:55 PM
    Best Buy (BBY -0.5%) plans to hire 500 employees for its Geek Squad with the stipulation that they each new worker holds an advanced degree. The move follows a mass layoff in the division earlier this month and build on a growing focus by the company into small business services after it snapped up MindShift Technologies.
    | Jul. 16, 2012, 1:55 PM
  • Jul. 13, 2012, 12:56 PM

    Speculation mounts that Google (GOOG +0.8%) could start to open retail stores after seeing rivals Apple (300 open) and Microsoft (44 planned) push into the domain. For now, the company has only established Chrome Zones in Best Buy (BBY -0.9%) stores and other select locations, but a major investment to promote and protects its brand could be part of its future strategy. The move could also be a blow for office supply stores and electronics retailers depending on what kind of products are sold at the Google store and how distributions deals are worked out.

    | Jul. 13, 2012, 12:56 PM | 5 Comments
  • Jul. 12, 2012, 11:48 AM

    Sam's Club (WMT +0.4%) advertises the Google Nexus 7 on the home page of its website with promotions aimed directly at college students. The move follows the direction of a growing numbers of retailers - including BBY, RSH, ODP, OMX, and SPLS - keeping their primary focus on selling tech products directly to college students rather than the typical K-12 back-to-school crowd. Laptops and tablets could boost revenue totals, but NBG's Brian Sozzi warns college kids are likely to be online bargain buyers.

    | Jul. 12, 2012, 11:48 AM
  • Jul. 11, 2012, 9:13 AM
    Shares of hhgregg (HGG) continue their freefall, now down 29.1%, following the retailer's sharp cut in guidance. While RadioShack (RSH) and Best Buy (BBY) are the obvious sympathy selloff plays - Aaron's (AAN), Conn's (CONN), and even GameStop (GME) could also get swept into the fray on concerns about the electronics market.
    | Jul. 11, 2012, 9:13 AM
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