Best Buy (BBY) Declares $0.50 Quarterly Dividend; 3.2% Yield

Best Buy (BBY) PT Lowered to $69 at UBS

August 30, 2019 5:35 AM EDT

UBS lowered its price target on Best Buy (NYSE: BBY) to $69.00 (from $72.00) while maintaining a Neutral rating.

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Best Buy (BBY) PT Lowered to $70 at Telsey

August 30, 2019 5:13 AM EDT

Telsey analyst Jospeh Feldman lowered the price target on Best Buy (NYSE: BBY) to $70.00 (from $76.00) while maintaining a Market Perform rating.

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Best Buy (BBY) PT Lowered to $70 at Morgan Stanley

August 30, 2019 4:58 AM EDT

Morgan Stanley analyst Simeon Gutman lowered the price target on Best Buy (NYSE: BBY) to $70.00 (from $77.00) while maintaining a Equalweight rating.

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Best Buy (BBY) PT Lowered to $70 at Citi

August 30, 2019 4:47 AM EDT

Citi analyst Geoffrey Small lowered the price target on Best Buy (NYSE: BBY) to $70.00 (from $74.00) while maintaining a Neutral rating.

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Best Buy (BBY) PT Lowered to $68 at RBC Capital

August 29, 2019 2:50 PM EDT

RBC Capital analyst Scot Ciccarelli lowered the price target on Best Buy (NYSE: BBY) to $68.00 (from $70.00) while maintaining a Sector Perform rating.

2Q comps were a touch lighttariff questions loom... More

Apple to supply parts to independent repair shops for first time

August 29, 2019 8:07 AM EDT

By Stephen Nellis

(Reuters) - Apple Inc (NASDAQ: AAPL) said on Thursday it will begin selling parts, tools and repair guides to independent shops to fix broken iPhones, a major change after years of lobbying against laws in some U.S. states that would have compelled it to do just that.

Apple said the program, which should help ease heavy demand on Apple and its authorized partners to fix millions of cracked screens and fried charging ports, will launch in the United States before being rolled out to other countries.

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Wall Street rallies after China trade comments

August 29, 2019 8:04 AM EDT

By Chuck Mikolajczak

NEW YORK (Reuters) - U.S. stocks rallied more than 1% on Thursday, buoyed by gains in the trade-sensitive technology and industrial sectors as China expressed hope on trade negotiations with the United States, easing concerns that rising tensions could stoke a recession.

China's commerce ministry said both sides are discussing the next round of talks scheduled for September, but progress would be determined by whether Washington could create favorable conditions.

U.S. President Donald Trump said in a Fox News radio interview that trade talks were scheduled for Thursday "at a different... More

Best Buy's sales forecast falls short as tariffs loom

August 29, 2019 7:13 AM EDT

By Uday Sampath Kumar

(Reuters) - Best Buy Co Inc (NYSE: BBY) blamed planned U.S. tariffs on Chinese imports and uncertainty about future consumer behavior for a lower annual sales forecast, becoming the latest company to air concerns about President Donald Trump's trade war with Beijing.

Best Buy's shares, which have lost more than 10% of their value so far this month, fell 9% to $62.80 as the consumer electronics retailer's same-store sales outlook fell short of analysts' expectations even as it lifted its earnings forecast.

Strong July retail sales... More

Best Buy (BBY) Tops Q2 EPS by 9c; Raises EPS Guidance

August 29, 2019 7:03 AM EDT

Best Buy (NYSE: BBY) reported Q2 EPS of $1.08, $0.09 better than the analyst estimate of $0.99. Revenue for the quarter came in at $9.54 billion versus the consensus estimate of $9.56 billion. Enterprise Comps rose 1.6%, Domestic comps rose 1.9%.

For the second quarter, we are reporting comparable sales growth of 1.6% on top of a very strong 6.2% last year, said Corie Barry, Best Buy CEO. We also delivered improved profitability driven by gross profit rate expansion and continued disciplined expense management, demonstrating the... More