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Best Buy Co. (BBY)

  • Jul. 10, 2013, 10:02 AM
    Shares of Best Buy (BBY -5.1%) wilt in early trading. Technical traders are saying the stock hit technical resistance at $30 while the fundamental side points to cautious comments from analysts on the retailer.
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  • Jul. 3, 2013, 7:42 AM
    Goldman Sachs picks up coverage on Best Buy (BBY) again with a Buy rating and $34 price target. The firm cites a strategic relationship with Microsoft and improved financial discipline from new management as positive factors for the retailer. BBY +0.1% premarket.
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  • Jul. 1, 2013, 8:53 AM
    Credit Suisse takes coverage back up on Best Buy (BBY), slotting the retailer at an Outperform rating and assigning it a very bullish price target of $40. The investment firm cites other textbook retail turnaround stories as it backs management at Best Buy to see similar success. BBY +2.6% premarket to $28.03.
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  • Jun. 24, 2013, 1:42 PM
    Best Buy (BBY -1.5%) will start to use stores to fulfill online orders under a new plan by CFO Sharon McCollam to change the company's supply chain. The transition should help prevent the out-of-stock messages which can plague Best Buy's website for certain items. In addition, the retailer is looking at selling returned store items at a discount to online shoppers.
  • Jun. 21, 2013, 12:41 PM
    Best Buy (BBY +0.9%) CEO Hubert Joly put in a solid performance at the retailer's annual meeting yesterday as he outlined a plan to transform and improve the company instead of blindly re-invent it. On the cost-cutting and customer service fronts, Joly has made some progress, but until comparable-store sales show some momentum his feet are still in the fire.
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  • Jun. 18, 2013, 8:15 AM
    More on ICSC Retail Sales: The retail sector put in a mixed week with department stores, electronics store chains (RSH, BBY), and drug stores (CVS, WAG, RAD) strong for the period, but sales at dollar stores (DG, DLTR, FIVE, FDO) and wholesale clubs (COST, PSMT) notably weak. After last week's drop in sales cut into forward progress, the year-over-year gain in retail chain store sales stands 2.5% higher after threatening a 3% pace earlier in the year.
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  • Jun. 13, 2013, 1:05 PM
    Following Apple's retail lead again, Microsoft (MSFT -0.9%) is opening 600 "Windows Stores" with 1.5K-2.2K sq. feet of real estate inside of Best Buy (BBY +0.6%) outlets, and another 100 within Canadian electronics chain Future Shop's stores. Like Microsoft's own retail outlets, both Microsoft and OEM partner hardware will be shown off. Also: Microsoft is set to launch an ad campaign that will simultaneously promote Windows 8 and Windows Phone, and the well-plugged-in Mary-Jo Foley reports hearing Microsoft's restructuring could yield "two leaders for each of its new business segments" (for example, a consumer head and a business head for the Services unit).
  • Jun. 3, 2013, 6:55 AM
    Best Buy (BBY) is ahead by 3.8% in the premarket following an upgrade to Buy from Hold at SunTrust, with price target of $35.
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  • May 31, 2013, 8:45 AM
    A below par reading on personal spending for April was affected by lower gas prices and home heating bills and isn't a biting indictment on retail spending (AEO, ANF, ARO, BBBY, BBY, BJ, CHS, COH, COST, DG, DLTR, GPS, HD, JCP, JWN, KSS, LOW, LTD, M, NDN, NKE, ODP, PIR, PLCE, RSH, SKS, SPLS, TGT, TJX, URBN, WMT, WSM, ZLC), according to economists. Auto sales also cooled off just a bit in April which had an impact. So far, retail trends have been largely favorable in May as the height of the spring selling season shifted a few weeks later.
  • May 22, 2013, 8:21 AM
    Best Buy (BBY) declares $0.17/share quarterly dividend, in line with previous. Forward yield 2.65%. For shareholders of record June 11. Payable July 2. Ex-div date June 7. (PR)
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  • May 21, 2013, 9:15 AM
    Heard during Best Buy's (BBY) earnings call: 1) CEO Hubert Joly indicates the company might do more store-within-a-store deals with vendors. Talks are ongoing. 2) No specific details are given, but the company says it's already seeing a positive impact on sales in states where online sales taxes are collected. 3) Joly seems to be doing what he does best, negotiating cost reductions at Best Buy and squeezing out more savings. 4) A nice improvement in online sales is a highlight for the company as execs pitch the case the brand is being resurrected. BBY -2.7% premarket. (webcast)
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  • May 21, 2013, 7:12 AM
    More on Best Buy's (BBY) Q1: Comparable store sales dipped 1.1% during the period, although the retailer did get a strong bounce (+16.3%) from online sales. If the shift of the Super Bowl and the impact from the decision to cut back on certain non-core businesses is backed out, comp sales were flat. Gross profit was down 190 bps to 23.4% due to the retailer's increased investment in pricing and higher promotional stance. The company notes Samsung Experience shops will be a focus in Q2. (PR)
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  • May 21, 2013, 7:01 AM
    Best Buy (BBY): Q1 EPS of $0.32 beats by $0.06. Revenue of $9.38B misses by $1.26B. (PR)
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  • May 21, 2013, 12:05 AM
    Notable earnings before Tuesday’s open: AZO, BBY, DCIX, DKS,HD, MDT, NM, SKS, TJX
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  • May 20, 2013, 5:30 PM
    Notable earnings before Tuesday’s open: AZO, BBY, DCIX, DKS,HD, MDT, NM, SKS, TJX
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  • May 20, 2013, 7:40 AM
    Best Buy's (BBY) store-within-a-store strategy is starting to pay off as wasted (no profits) space for DVD and CD products is converted into creative floor space that can produce profits, according to Janney Montgomery Scott's David Strasser. The analyst sees positive same-store sales for the current quarter.
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Company Description
Best Buy Co Inc is a retailer of technology products, including tablets and computers, televisions, mobile phones, large and small appliances, entertainment products, digital imaging and related accessories.
Sector: Services
Country: United States