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Best Buy Co. (BBY)

  • May. 7, 2013, 12:30 PM
    The Internet tax bill (Marketplace Fairness Act) passed a Senate vote 69 to 17 but faces a much bigger obstacle in the House where some members are expected to draw the line on what they call a tax increase. If the bill ultimately succeeds, retail analysts see a marginal benefit for the retailers that are hit the hardest by the "showrooming effect" - Best Buy (BBY -0.8%), Bed Bath & Beyond (BBBY +0.1%), and PetSmart (PETM +0.4%) come to mind - while pegging eBay (EBAY -0.3%) as a company that might have the most to lose.
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  • May. 6, 2013, 10:53 AM
    Best Buy (BBY -1.5%) will consider adding clearance sections to its stores, according to Belus Capital Advisors' Brian Sozzi. The retailer already has an online section of its website devoted to clearance offerings for open box and refurbished devices.
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  • Apr. 30, 2013, 9:19 AM
    Shares of Best Buy (BBY) move up 6% in premarket trading after a plan by the company to sell its stake in Carphone Warehouse looks to be a smart move to investors. CEO Hubert Joly's intensified focus on strengthening Best Buy's balance sheet and improving returns on investment is the elixir du jour, but skeptics still point to the retailer's square footage costs in the U.S. as a hurdle to clear.
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  • Apr. 30, 2013, 9:10 AM
    Premarket gainers: HPY +10%. HTWR +9%. ANAD +9%. AVP +8%. UBS +7%. BBY +6%.
    Losers: DCTH -20%. AVEO -16%. NUAN -15%. PBI -10%. MTG -8%. CNH -6%. RVBD -6%. QGEN -5%.
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  • Apr. 30, 2013, 3:58 AM
    Best Buy (BBY) is selling its 50% stake in Carphone Warehouse back to Carphone Warehouse for $775M. BBY paid $2.15B in June 2008 to expand its stake from 3% to 50%, but its plans to roll out Best Buy Europe big box stores were aborted in 2011. BBY will take a non-cash charge of $200M for the sale in Q1. Best Buy, which still operates stores in Mexico, Canada and China, says the move does not signal any similar action in our other international businesses. (PR)
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  • Apr. 10, 2013, 9:48 AM
    Shares of Best Buy (BBY -2.8%) slip lower in early trading. There isn't any alarming news out on the company, but in a week of sluggish indicators on retail sales traders appear to be trimming their holdings a bit with BBY on a +112% YTD tear.
  • Apr. 5, 2013, 6:43 AM
    Best Buy (BBY) is on watch to see if shares can keep rallying after they set a 13-month high yesterday. Analysts have been gushing over the retailer's plan to bring boutiques into its stores - including Janney Capital's David Strasser who declared the "end of showrooming" at Best Buy.
  • Apr. 4, 2013, 12:15 PM
    Shares of Best Buy (BBY +12.4%) have put together a double-digit rally after its plan to set up Samsung mini stores in outlets is well-received. Analysts think it might be just be the tip of the iceberg with the company aiming to let other retailers set up boutiques inside of its stores as well.
  • Apr. 4, 2013, 3:10 AM
    Samsung (SSNLF.PK) plans to copy Apple - not for the first time, some might say - and set up 1,400 mini stores in Best Buy (BBY) outlets across the U.S. by June. The "Samsung Experience Shops" will not only sell the company's products but also provide customer support. For Best Buy, the move is part of its strategy to fight the phenomenon of showrooming.
  • Apr. 3, 2013, 1:07 PM
    Best Buy (BBY) and Target agree to end a partnership which saw Geek Squad employees inside stores in a pilot program. What's interesting is that the longer CEO Hubert Joly has been on the job, the less that is being said by execs about the Geek Squad expanding outside of Best Buy stores as a new service.
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  • Mar. 27, 2013, 12:46 PM
    Best Buy (BBY -3.8%) slips lower after S&P Capital IQ cuts its rating on the retailer to Sell from Hold on a valuation call.
  • Mar. 25, 2013, 9:18 AM
    Back to the future: The return of Richard Schulze to Best Buy (BBY) as Chairman Emeritus along with two of his nominees to the board is a good indication the founder will hold on to the large stake in the company he owns and will back a turnaround plan. If CEO Joly and Schulze are on the same page, analysts think the chances for a Best Buy revival look more promising. Shares of BBY +0.7% premarket to $22.92, marking their highest trading level in ten months.
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  • Mar. 25, 2013, 8:53 AM
    Best Buy (BBY) founder Richard Schulze returns to the company as Chairman Emeritus, announcing his support for CEO Hubert Joly's plans, but nominating Brad Anderson and Al Lenzmeier to the board. "I determined that the best way to support Best Buy would be to report in support of the initiative underway." Shares +1% premarket.
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  • Mar. 25, 2013, 8:17 AM
    The parade of analyst adoration for Best Buy (BBY) continues with Barclays raising its price target on shares to $28 from $20. Many of the investment firm upgrades have been tied to confidence in CEO Hubert Joly's ability to streamline the big box retailer. BBY +1.1% premarket to $23.00.
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  • Mar. 20, 2013, 1:01 PM
    Best Buy's (BBY +4.2%) top exec says its Five Star electronics chain in China resigned to take another position. The move could be an early warning sign that the unit will be sold off with CEO Hubert Joly widely believed to be willing to divest global assets.
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  • Mar. 20, 2013, 9:50 AM
    Why all the analyst love for Best Buy (BBY +2.5%)? Shares of the retailer have almost doubled since the start of the year as one investment after another turns bullish (Credit Suisse, JPMorgan, Goldman Sachs). The common theme is that a strong management team can lead another round of cost cutting and squeeze more profits out of online and mobile channels.
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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