I don't expect much from BBY tomorrow but take a look and TGT, ANF and a bunch of other retailers lately. Their releases have been anything but stellar yet shares have rebounded nicely. The XLF bottomed around Feb 3rd and it appears that the market is betting on spring showing up and that there will be some pent up demand after almost three brutal months of weather across a big chunk of the US. It appears that the market is giving a pass to retailers if the numbers are close or as in TGT's today not as bas as expected. I've been buying TGT lately so I loved today. So if BBY comes close or beats on EPS and is close on revenue don't be surprised if shares go higher. There is another X factor Thursday if Yellen says all the right things you may see another rally like her last testimony. I do agree that firing these 2000 managers seems like a last minute measure but they usually make these announcements during the earning's release. I think two things may happen....either they miss slightly and shares drop modestly or they come in line and you see a $1-$2 rally. The late day action and after hours moves make me wonder if somebody know something.
I believe there are very few followers of BBY shares that believe they will beat at this point. If they beat in like you say these shares will be approaching $30 or better by early to mid March. The herd mentality will be back again especially after what they told investors about the holiday sales.
The market loves to run stocks into earnings and it is coat-tailing a strong retail tape boosted by HD and M today. The market may be looking past the cold weather with March nearby. Of course all that eventually matters is Thursday morning pre-market.
It's up today with a red tape. I think it's piggybacking HD and M's gains today. The market does like to run stocks up especially ones that have been cut in half before earnings. I still think earnings for the past quarter will be weak but they may be optimistic going forward and that will make shares go higher if the earnings are close enough. HD missed revenue today and the stock is up nice today. The market has been forgiving slight misses I would guess because the US economy lost over two months due to weather.
I think you may be right about a decent miss that's what I thought last week too. But the numbers have come down a lot and weather has improved in a lot of the affected parts of the US but it may be too late for this quarter guidance will be key too. Now will the market give BBY a pass if the earnings are close who knows? The market killed CONN's after their report last week but they were guilty of the same thing that killed their shares in September that was they were doing a poor job with their credit portion of the business despite SSS up over 33% but their numbers were poor. I'm in NY and the weather has finally eased up about a week or two ago. When they reported the poor holiday numbers (on Jan 16 I believe) the conference call said that traffic was weaker than they expected in addition to the discounting which tells me I think they will miss but the key may be the revenue number. Two other factors may be gift cards which could have boosted sales after the holidays and have they cost cut by laying off holiday help? The total value of gift cards I gave to friends and family was about 75% of gifts, you can buy them on line and they don't get recognized until they are redeemed. I'm holding some shares long that I was buying after the January drop but I have not bought any since I may trim some before Thursday. In this market when you think for sure one thing will happen something else shows up. BBY reports before the open now if it's a slight miss and shares sell off in the pre-market watch to see if they rally back before 9:30am then I think they go green by 4pm. Good luck it will be interesting that's for sure. (Sorry for the long post)
They cut their target from $88 to $60 in the late morning. These analysts were just like the BBY analysts in 2013 then both stocks got killed after big runs. They actually pay these guys and gals handsomely. What amazes me is that back in September CONN's got a big haircut for similar reasons with the credit issues and the market still ran the stock back up to $80 in late 2013. The pump and dump never gets old with WS.
Today it just keeps going up without the market on no news I see. Maybe they are playing with general light volumes. May drop later when they are done playing.
through cost cutting the adjusted EPS loss much less than the estimate revenue close to the view. Now can demand pick up in the next year? Numbers may have come down enough to double bottom near $10. If the GOP takes the WH this stock will be much higher in 2016 but that's a long way out for now.
They ripped this stock a new one again today like they did six months ago. At 8:10 am it's down 29% right now. The market loves to run stocks up then only to destroy them in a few days. This was over $80 two months ago and now like BBY cut in half.
Better hope so... the margins may be factored in unless they are horrible. I would say by discounting through late 2013 they may actually beat the revenue but I'm not so sure since it was an ice bowl through 2/3 of the country for the past few months and it is showing up in almost all the government macro numbers each day lately. Now the market appears to be throwing a lot of these macro numbers out because of the weather and still rallying but they are not really doing it for individual stocks when they miss by a decent amount. There have been some stocks getting crushed lately after big misses. BBY did retrace 50% down to the low $22 area so if they miss maybe it heads back there. Let's see if they try to run it up before the report it has had trouble breaking out from $25. One thing BBY has going for it is that analysts have brought down the numbers a lot since the poor holiday update.
Tie him to a rope with all the other miner CEO's then Obama can urinate on them while he laughs.
That may explain the pre-market weakness with the futures up for now. The price upgrade yesterday allowed a higher high but also may have allowed an opportunity for people to start to lock in gains at these levels. Let's see if it ends up green or red today and where the Nazdaq goes in relation to MU's close. If the Nazdaq ends up today and MU down you may have seen the high for now. DRAM pricing and seasonal weakness for tech may also play a role in weeks to come.
I try to do the same especially in this market especially when you can be up 200 then down the same the next day.
Maybe execs are selling....just kidding they usually sell either in the open market or pre-structured sales. Maybe these asks saw some genius buy 390 shares at $28 at 6:58am and figured what the hell. Possibly they believe the analysts meeting may have an affect on trading today shorts may try to hit those levels. Each time MU blows through an old high (like yesterday) it almost always drops quickly intra-day. Nothing in this market surprises me anymore.
Some genius must have had a slip of the button or thought process and bought 390 shares at 6:58am this morning. Now MU does have nice momentum for now so maybe it will get there by March-April.