U.S. Markets open in 1 hr 6 mins

MORNING MOVERS: Best Buy Hammered; Hits and misses in bank earnings; BlackRock shines

Hot Stock Minute

Best Buy (BBY) was hammered in early trading, down as much as 30%. The electronics retailer reported total holiday same-store sales dropped 0.8% from the previous year, while analysts were expecting an increase of 0.5%. Total revenue declined to $11.45 billion in the holiday period from $11.75 billion from a year earlier. The company also lowered its fourth-quarter guidance.

Goldman Sachs (GS) posted earnings this morning of $4.60 a share beating estimates of $4.21, but down from last year's $5.60 a share. Revenue fell 5% to $8.78 billion but beat estimates of $7.71 billion.

Citigroup (C) didn’t fare as well. The bank reported adjusted earnings of $0.82 a share which missed on estimates of $0.96. Revenue also missed coming in at $17.94 billion versus estimates of $18.18 billion, down from last year's $18.66 billion. In other news, Citigroup announced it will replace all customer debit cards involved in the Target data breach last month.

UnitedHealth Group (UNH) reported a rise in profits of 18% and earnings per share of $1.41, beating estimates by a penny. Revenue came in at $31.12 billion which beat estimates of $31.06 billion, and up from last year's $28.77 billion.

BlackRock (BLK), the world's largest money manager reported earnings this morning of $4.86 cents a share, beating estimates of $4.33. Revenue rose 9% to $2.78 billion which also beat estimates of $2.69 billion.