Morning Gains in Best Buy (BBY) Shares Fade Away
Tweet Send to a FriendGet Alerts BBY Hot Sheet
Price: $26.90 +3.86%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 3.1%
Revenue Growth %: +0.6%
Overall Analyst Rating:
NEUTRAL (= Flat)
Dividend Yield: 3.1%
Revenue Growth %: +0.6%
Trade BBY Now!
Shares of Best Buy Co. Inc. (NYSE: BBY) are fading this morning's gains related to a due diligence deal with founder and former Chairman Richard Schulze.
As illustrated by recent second quarter results, the company's fortunes continue to plummet although Schulze said he is willing to take the company private at $24-$26 per share.
There remains questions about the wherewithal of Mr. Schulze to actually pull off a deal, which is clearly reflected in the manic action in the stock price and the 25 percent discount to the bottom range of his proposal.
BBY last traded up 3.4 percent to $17.90, but are well off the day's highs of $18.65.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
As illustrated by recent second quarter results, the company's fortunes continue to plummet although Schulze said he is willing to take the company private at $24-$26 per share.
There remains questions about the wherewithal of Mr. Schulze to actually pull off a deal, which is clearly reflected in the manic action in the stock price and the 25 percent discount to the bottom range of his proposal.
BBY last traded up 3.4 percent to $17.90, but are well off the day's highs of $18.65.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Applied Materials, Inc. (AMAT) Tops Q2 EPS by 3c, Offers Guidance
- UPDATE: Aruba Networks, Inc. (ARUN) Misses Q3 EPS by 4c, Guidance Light
- UPDATE: Correct: Buying Warner Chilcott plc (WCRX) Seen as Takeover Defense by Actavis (ACT)
Create E-mail Alert Related Categories
Mergers and Acquisitions, Trader TalkRelated Entities
Earnings
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
