|Bid||65.02 x 800|
|Ask||66.04 x 900|
|Day's Range||63.34 - 66.21|
|52 Week Range||47.72 - 84.37|
|Beta (3Y Monthly)||1.41|
|PE Ratio (TTM)||12.68|
|Earnings Date||May 22, 2019 - May 28, 2019|
|Forward Dividend & Yield||2.00 (2.69%)|
|1y Target Est||77.41|
Best Buy is expanding the services it offers, going beyond the consumer electronics at the core of its business.
The electronics chain could get wounded by the trade war -- but politics or no politics, people are still buying lotions and candles.
While Best Buy Co Inc (NYSE: BBY ) turned in another solid quarter Thursday, its success could be threatened by rising tariffs, according to Wedbush. Best Buy reported first-quarter earnings of $1.02 ...
Best Buy (NYSE:BBY) reported earnings yesterday and after a brief pop, BBY stock fell and closed down 4.8% on the day. With that in mind, I want to discuss the support zone below and identify the potential trades from here.Source: Austin Kirk via FlickrFirst, let's set the investing environment: So far, 2019 has been good to the indices which was a positive change from how 2018 ended with a crash into Christmas. However, this week it's starting to feel like December again. But this time it's different.So let's start with the macroeconomic picture. Companies are still delivering strong report cards but they are guiding cautiously because of geopolitics. So investors are hesitant to celebrate the actual results for fears of coming weakness.InvestorPlace - Stock Market News, Stock Advice & Trading TipsThis is the fault of the economic war that the U.S. and China are having and what makes it worse is that they are negotiating it in the public medium instead of how grown adults should do in a formal sit-down of leaders. Until the two presidents meet face to face, the stock markets will be a slave to the unpredictable headlines like we are having this week. * 10 Names That Are Screaming Stocks to Buy But as I stated above, this is not the same situation from December because this time the U.S. Federal Reserve is on the stock market side. Last year, they were part of the problem but since then they've flipped 180 degrees to the point that they are more likely to cut rates than raise them. So if the economy falters the Fed net is ready for us. How to Approach BBY StockBest Buy stock came into the earnings up almost 30% year-to-date, so it can afford to lose a bit without changing the overall trend. Investors punished it hard but therein lies the pleasant surprise. After seeing management's grim tariff warnings, I'd expect it to be down much more.So this less dramatic reaction is the good news. But you shouldn't necessarily catch this falling knife without some safety, or it could end up costing some digits.Fundamentally, Best Buy stock is cheap from an absolute basis as it sells at a price-to-earnings ratio of 12X.As for the business model, I am not a fan. I am a former engineer so I am a like tech. And I can't even remember when was the last time I went to a BBY store. However, consensus on Wall Street is that consumers need to touch the tech before they buy it.I see this as a minor selling point to it. So, for now, I bet they are still doing as well as they are because they are the only gig in town. I can find all I need at Amazon (NASDAQ:AMZN), Ebay (NASDAQ:EBAY) and Costco (NASDAQ:COST) or Walmart (NYSE:WMT).Nevertheless, BBY management reported a decent quarter as they met or beat most metrics, including comparable sales, especially in the U.S. The problem came from the tone that management had for ongoing risks. The outgoing CEO Hubert Joly painted as dire a picture as can be with regards to the risks of the tariff war. He spoke of increased costs and their impact on shoppers.This alone should have had a worse effect on BBY stock than it did … especially given that this happened on a very bad market day and while overall sentiment was negative. So the dip on Thursday came with as much force as it could have. This usually constitutes a legitimate test of support.This is similar to what happened last Christmas when stocks collapsed on similar circumstances. So once this tizzy passes, BBY stock should have a great opportunity for a bounce. It is also important to note that finding perfect bottoms is rare, so I don't suggest taking a full position all at once.It's best to start with one tranche and leave room to add at lower prices if the selling persists. Even then, you should also place stop loss levels that fit my personal preferences and tastes.If you already own the shares, then this is not the time to panic out of them for as long as the reason you took the position is still viable. This depends entirely on personal preferences and time frames. * 7 Marijuana Stocks to Play the CBD Trend Technically, there are a few key lines to know. First, there still is an open gap to $61.50, so the selling could continue, especially if the overall market sentiment doesn't improve. We are going into a long weekend and traders might want to flatten out for headline fears.But this whole zone has been pivotal for months so it's likely to be sticky. So I'd watch for a break below Thursday's low at $64.4 and anticipate another wave lower if that happens.Conversely, I shouldn't expect an immediate reversal and rally. First, I need to see a bottom. Then a trend of higher lows to challenge the descending trend of lower highs. The buyers will probably not come in until they see a breach of these descending trend lines. So patience is important to avoid being too early. There will be resistance at $70 and around $75.5 once they get there.Simply stated, the earnings selloff is testing Best Buy stock's support. If it holds, then there is the opportunity to trade it from the long side like December.Nicolas Chahine is the managing director of SellSpreads.com. As of this writing, he did not hold a position in any of the aforementioned securities. You can follow him as @racernic on Twitter and Stocktwits. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 5 Safe Stocks to Buy This Summer * The 5 Best Telecom Stocks to Buy Now * 6 Innovative Stocks With Big Long-Term Growth Potential Compare Brokers The post The Dip in Best Buy Stock Is Not An Endless Abyss appeared first on InvestorPlace.
The United States increased tariffs on $200 billion in Chinese imports to 25% from 10% last week. U.S. President Donald Trump has also threatened an additional round of tariffs on $300 billion that would cover nearly everything imported from China to the United States. BEST BUY CO INC: "The impact of tariffs at 25% (proposed to be enacted) will result in price increases and will be felt by U.S. consumers," CEO Hubert Joly said.
The Board of Directors of Best Buy Co., Inc. has authorized the payment of a regular quarterly cash dividend of $0.50 per common share. The quarterly dividend is payable on July 5, 2019, to shareholders of record as of the close of business on June 13, 2019.
What should investors take away from Best Buy and L Brands earnings' reports? Jim Cramer rounds up retail and looks ahead to Foot Locker's earnings' report Friday before the bell.
Until all of the negative trade news is fully baked into the stock market, investors need to remain cautious, Jim Cramer warned his Mad Money viewers Thursday. Other markets, like oil and U.S. Treasuries are already assuming the worst, Cramer said, but so far stocks have not followed suit. Neither side is feeling overly compelled to compromise, Cramer said, and for the first time, our government is willing to take action against bad actors like Huawei.
Washington last week effectively banned U.S. firms from doing business with Huawei, the world's largest telecoms network gear maker, citing national security concerns. "You look at what they've done from a security standpoint, from a military standpoint, it's very dangerous," Trump said in remarks at the White House. Trump predicted a swift end to the trade war with China, although no high-level talks have been scheduled between the two countries since the last round of negotiations ended in Washington two weeks ago.
Consumer electronics retailer Best Buy on Thursday beat Wall Street's expectations for earnings in its fiscal first quarter on in-line sales, but trade woes sent the company's shares down.
U.S. stocks ended a tumultuous session with sharp losses on Thursday after Wall Street dawned on the possibility that a prolonged U.S.-China trade spat may be a more likely outcome than a near-term truce. The S&P 500 fell 1.2% to finish around 2,822. The Dow Jones Industrial Average shed 286 points ,or 1.1%, to end around 25,490, based on preliminary numbers. The Nasdaq Composite slipped 1.6% to finish near 7,628. Key equity benchmarks pared declines toward the end of the session. Appetite for risk assets soured after analysts said a trade war may no longer be a tail risk and instead the baseline scenario. The stock-market jitters aided the bond-market's rally, with the 10-year Treasury yield fell to around 2.30%, its lowest level since Oct. 2017. Debt prices move in the opposite direction of yields. Prices for West Texas Intermediate oil fell 5.7% to $57.91 a barrel, marking its biggest drop for the year. Shares of Best Buy Co. slumped 4.8% after the retailer issued an anemic outlook for the full year of 2019, even though its earnings beat analyst expectations.
The consumer electronics retailer's commentary on the impact of tariffs overshadowed its better-than-expected profit in the first quarter and solid second-quarter forecast. "The impact of tariffs at 25% (proposed to be enacted) will result in price increases and will be felt by U.S. consumers," outgoing Chief Executive Officer Hubert Joly said in a conference call with analysts. The world's largest retailer Walmart Inc last week warned that its prices would increase due to higher tariffs, while Macy's Inc said higher levies were already hurting its furniture business.
The retail chain reported better-than-expected first-quarter earnings Thursday, with shares up more than 2%.
Why Best Buy Stock Fell despite Strong Q1 EarningsFirst-quarter resultsBest Buy (BBY) reported better-than-expected earnings for the first quarter of fiscal 2020, which ended on May 4. Still, the stock was down 5.7% as of 2:12 PM today as the
Shares of Best Buy Co. Inc. are down Thursday after the retailer reported a better-than-expected first quarter — but held off on raising its outlook for the full year, citing potential fallout from the United States' simmering trade dispute with China.
Check out the companies making headlines midday Thursday:L Brands LB — L Brands surged 12.8% after the parent company of Victoria's Secret and Bath & Body Works reported first-quarter earnings that surpassed expectations .
The International Monetary Fund is out with a study, stating that U.S. tariffs on Chinese goods have been mostly paid for by American importers. James Liu, Clearnomics Founder & CEO and Ashley Feng, Researcher at the Center for a New American Security, join Seana Smith on 'The Ticker' to discuss
Anthony Chukumba of Loop Capital breaks down Best Buy's earnings beat and what it means for the company with CNBC's "Power Lunch" team.
Brian Nagel, Oppenheimer director of research, joins "The Exchange" to discuss Best Buy's quarterly earnings.