Jefferies Raises Price target on Best Buy (BBY) Following a Conversation with Management

Morgan Stanley Cuts Price Target on Best Buy (BBY) Following 2Q16 EPS Beat

August 26, 2015 11:34 AM EDT

Morgan Stanley maintained an Overweight rating on Best Buy (NYSE: BBY), and cut the price target to $40.00 (from $43.00), following the company's 2Q16 earnings results. BBY delivered Q2 EPS of $0.49, which was 15 cents above consensus. Analyst Simeon Gutman said that the strength of the quarter... More

UBS Raises Price Target on Best Buy (BBY) Following 2Q16 EPS Beat

August 26, 2015 8:34 AM EDT

UBS reiterated a Neutral rating on Best Buy (NYSE: BBY), and raised the price target to $35.00 (from $33.00), following the company's 2Q16 earnings results. BBY reported EPS of $0.49 beating consensus of $0.34. Revenues of $8.53B came out ahead of $8.29B consensus.

Analyst Michael Lasser commented, "While there is typically a tendency to hem and haw with BBY's... More

Best Buy (BBY) Declares $0.23 Quarterly Dividend; 2.8% Yield

August 26, 2015 8:05 AM EDT

Best Buy (NYSE: BBY) declared a quarterly dividend of $0.23 per share, or $0.92 annualized.

The dividend will be payable on October 6, 2015, to stockholders of record on September 15, 2015, with an ex-dividend date of September 11, 2015.

The annual yield on the dividend is 2.8... More

Raymond James Upgrades Best Buy (BBY) to Strong Buy

August 26, 2015 6:38 AM EDT

Raymond James upgraded Best Buy (NYSE: BBY) from Market Perform to Strong Buy with a price target of $40.00.

For an analyst ratings summary and ratings history on Best Buy click here. For more ratings news on Best Buy click here.

Shares of Best Buy closed at $32.95 yesterday.

... More

Market Wrap: Markets Fail to Hold Gains as China Cuts Rates; Best Buy has Strong Q2; Oshkosh Get Major Army Contract

August 25, 2015 5:28 PM EDT

Market wrap for August 25th

End of the Day: S&P 500 down 25.6 to 1,867.61; Dow Jones down 204.9 to 15,666.44; Nasdaq down 19.8 to 4,506.49

Market Brief: China moved to cut key rates even further as the country moved to free up money to stem a slumping economy. Interest rates were cut by 0.25 point, while reserve requirements were cut by 0.5 point. The move comes following a 8.5 percent drop in the Shanghai Composite on Monday and 7.6 percent drop today, not to mention a sharper correction seen... More

Pre-Open Stock Movers 08/25: (ESI) (ACOR) (BBY) Higher; (DSW) Lower (more...)

August 25, 2015 9:23 AM EDT

ITT Technical Institute (NYSE: ESI) 32.3% HIGHER; has prevailed in its efforts to overturn the unlawful suspension imposed by the California State Approving Agency for Veterans Education.

Acorda Therapeutics (Nasdaq:... More

Best Buy (BBY) Says Apple Watch Demand 'Strong'

August 25, 2015 8:20 AM EDT

On its call, Best Buy (NYSE: BBY) CEO said demand for the Apple Watch (NASDAQ: AAPL) has been "strong."

... More

Best Buy posts surprise sales rise; shares jump

August 25, 2015 7:20 AM EDT

By Nandita Bose and Yashaswini Swamynathan

(Reuters) - Best Buy Co Inc (NYSE: BBY), the biggest U.S. electronics chain, reported an unexpected increase in quarterly sales and said it expected consumer spending to remain strong this quarter, sending its shares up nearly 15 percent.

The company, which said it benefited from demand for appliances, TVs and mobile phones, also reported higher-than-expected earnings for the second quarter ended on Aug. 1.

Chief Financial Officer Sharon McCollam said the financial markets' recent volatility had not affected spending at Best Buy stores so far.... More

Best Buy (BBY) Tops Q2 EPS by 15c

August 25, 2015 7:01 AM EDT

Best Buy (NYSE: BBY) reported Q2 EPS of $0.49, $0.15 better than the analyst estimate of $0.34. Revenue for the quarter came in at $8.53 billion versus the consensus estimate of $8.29 billion.

Comps rose 3.8 percent.

Hubert Joly, Best Buy chairman and CEO, commented, We believe these better-than-expected second quarter results are affirmation that our strategy of offering advice, service and convenience at competitive prices is paying off. Enterprise revenue grew 0.8% to $8.5 billion driven by a 3.9% increase in the Domestic segment, partially offset by the impact of the Canadian brand consolidation and 120 basis points of pressure from foreign... More

Wall Street rally goes up in smoke, indexes end lower

August 25, 2015 6:15 AM EDT

By Noel Randewich

(Reuters) - A rally on Wall Street evaporated on Tuesday and stocks ended with deep losses as concerns about China's economy outweighed lower valuations that some earlier saw as bargains.

In a dramatic session, major indices turned negative in the final minutes of trading after previously climbing almost 3 percent.

Investors cited more worries that a slowdown in China could hobble global growth, even after the country's central bank cut interest rates on Tuesday for the second time in two months. The move came after Chinese stocks slumped 8 percent on Tuesday, on top... More

Trading Radar for 8/25: Best Buy (BBY), Toll Bros. (TOL), Sanderson Farms (SAFM), Nimble Storage (NMBL) Report

August 24, 2015 2:26 PM EDT

The Trading Radar highlights key earnings and economic announcements for the next trading session:

Before Markets Open:
Economics:
9:00am EDT

Case-Shiller 20-City Index - Street sees 5.1%FHFA Housing Price Index - no Street consensus

Earnings:

BMO Financial Group (NYSE: BMO) - consensus EPS $1.76... More

Moody's Upgrades Best Buy (BBY) to 'Baa1'; Notes Changes to Capitalizing Operating Leases Approach

August 24, 2015 11:21 AM EDT

Moody's Investors Service upgraded all ratings of Best Buy (NYSE: BBY) ("Best Buy"), including the Senior Unsecured rating, which was upgraded to Baa1 from Baa2. A stable outlook was assigned. This concludes the review for upgrade that commenced on June 16, 2015.
Upgrades: ..Issuer: Best Buy Co., Inc.

.... Issuer Rating (Local Currency), Upgraded to Baa1 from Baa2

....Senior Unsecured Regular Bond/Debenture (Local Currency) Aug 1, 2018, Upgraded to Baa1 from Baa2

....Senior Unsecured Regular Bond/Debenture (Local Currency) Mar 15, 2016, Upgraded to Baa1 from Baa2

....Senior Unsecured Regular Bond/Debenture (Local Currency) Mar... More