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From Outstanding To Talented: Morgan Stanley On Best Buy's CEO Shuffle
Tuesday, April 16, 2019 - 1:38pm | 355Best Buy Co Inc (NYSE: BBY) said Monday CFO Corie Barry will transition to the CEO role and replace Hubert Joly in what should be a "smooth transition," according to Morgan Stanley. The Analyst Morgan Stanley's Simeon Gutman maintains an Equal-weight rating on Best Buy with a $77...
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Amazon, Best Buy Smart TV Partnership Hurts Roku
Wednesday, April 18, 2018 - 12:43pm | 379In a somewhat surprising development in the retail landscape, Amazon.com, Inc. (NASDAQ: AMZN) is teaming up with Best Buy Co Inc (NYSE: BBY). What Happened As part of a new partnership, Best Buy will start selling Amazon's new Fire TV Edition smart TVs that can link up with its Alexa and Echo...
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Best Buy Shares Soar 14% On Better-Than-Expected Q1
Thursday, May 25, 2017 - 7:17am | 461Shares of Best Buy Co In (NYSE: BBY) soared more than 14 percent early Thursday morning after the company reported its first-quarter results. The big-box retailer said it earned $0.60 per share in the quarter on revenue of $8.528 billion. By comparison, the company earned $0.43 per share in the...
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Best Buy's Market Share Gains Likely To Continue
Wednesday, December 7, 2016 - 10:20am | 305Best Buy Co Inc (NYSE: BBY) has made a number of brick-and-mortar, online and supply chain investments over the last few years, which will likely “continue to drive market share gains for the foreseeable future,” Loop Capital Markets’ Anthony Chukumba said in a report. He...
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Best Buy Management Lunch: 3 Takeaways
Thursday, June 23, 2016 - 7:53am | 291Following a lunch with Best Buy Co Inc (NYSE: BBY) management, Barclays’ Matthew McClintock mentioned that the company has three key areas of priority. McClintock maintains an Overweight rating on Best Buy, with a price target of $45. The management lunch on June 22 was attended by CEO Hubert...
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Best Buy Reports Better-Than-Expected Q1, But Shares Still Fall 5%
Tuesday, May 24, 2016 - 8:31am | 465Shares of Best Buy Co Inc (NYSE: BBY) were trading lower by more than 5 percent early Tuesday morning after the company reported its first-quarter results. Best Buy said that it earned $0.44 per share in the first quarter on revenue of $8.44 billion. Wall Street analysts were expecting the company...
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Best Buy Reports Better-Than-Expected Q4, Initial Q1 Guidance
Thursday, February 25, 2016 - 8:45am | 357Shares of Best Buy Co Inc (NYSE: BBY) were trading higher by around 1 percent after the company reported its fourth quarter results. Best Buy said it earned $1.53 per share in the fourth quarter on revenue of $13.623 billion. Wall Street analysts were expecting the company to earn $1.39 per share...
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Best Buy Harmed By Difficult Environment; Argus Reiterates Hold
Tuesday, December 29, 2015 - 9:59am | 396Best Buy Co Inc (NYSE: BBY) shares have declined 14.04 percent over the past three months, falling to $29.04 on December 18. Argus’ Christopher Graja recently reiterated a Hold rating on the company. Graja believes the company is facing a difficult industry environment and that the below...
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Brian Sozzi: Is Best Buy The Next RadioShack? No Way!
Monday, February 9, 2015 - 1:36pm | 311Brian Sozzi, CEO and chief equities strategist of Belus Capital Advisors, on Monday wrote on The Street about the success of Best Buy Co Inc (NYSE: BBY) in the wake of rival RadioShack filing for bankruptcy. Best Buy operates in a highly-competitive consumer electronic retail industry and has...
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Best Buy Reports Holiday Sales Data, Cautious Fiscal 2016 Comments
Thursday, January 15, 2015 - 7:49am | 280Best Buy Co Inc (NYSE: BBY) reported on Thursday that its domestic comparable-store sales for the nine weeks ended January 3, 2015 rose 2.6 percent, an improvement from the 0.9 percent decline the company saw in the same period a year ago. Revenue totaled $11.366 billion (including $1.233...
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Best Buy CEO To CNBC: Holiday Season Is Hard To Forecast
Thursday, November 20, 2014 - 3:25pm | 284Best Buy Co Inc (NYSE: BBY) solidly beat earnings estimates on Thursday, surprising many on the Street. Just about a year ago, analysts on Street were suggesting that the electronic retailer could cease to exist in the near future. After facing a major slump in January, Best Buy’s stock is...
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Comparison Of Price Matching Policies At 5 Major Retailers
Tuesday, August 5, 2014 - 8:26am | 1122Best Buy (NYSE: BBY) CEO Hubert Joly, in a recent interview with Re/Code, noted the importance of the company’s new price matching policy saying simply, “We’ve taken price off the table.” If only price matching were that simple. After accounting for exclusions, special...
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Analysts Reiterate Favorably On Best Buy
Tuesday, May 27, 2014 - 7:35am | 319Shares of Best Buy (NYSE: BBY) are up following an EPS beat on its first quarter 2014 earnings report. Additionally, the company's board announced regular quarterly dividends of $0.17 payable on July 3, 2014 to shareholders on record as of June 12, 2014. President and CEO Hubert Joly commented...
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Not Dead Yet: 3 Retailers That Are Apparently Defying The Odds
Thursday, February 27, 2014 - 3:45pm | 1335The retail industry has been in dire straits for some time now, and amid predictions of a tough 2014 for many major retailers there have also been death knells sounded for several stores have have been apart of the American consumer landscape for years, if not decades. However, recent earnings...
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Is Best Buy a Buy, Hold or Sell?
Friday, January 17, 2014 - 10:14am | 593According to Barron’s, it’s “good-bye” time, not “buy” time for Best Buy (NYSE: BBY). It did not help that holiday sales fell almost a full percent compared to the two percent gain analysts expected. In addition, the company expects to report a decline in Q4 operating profit on February 27....