About this content About Angela Harmantas Angela Harmantas is an Editor at Proactive. She has over 15 years of experience covering the equity markets in North America, with a particular focus on junior resource stocks. Angela has reported from numerous countries around the world, including Canada, the US, Australia, Brazil, Ghana, and South Africa for leading trade publications. Previously, she worked in investor relations and led the foreign direct investment program in Canada for the Swedish government ...

Core Viewpoint - Best Buy Co Inc is set to announce its second-quarter earnings report, with expectations of lower earnings and revenue compared to the same quarter last year [1] Group 1: Earnings Expectations - Wall Street anticipates earnings of $1.15 per share and revenue of $9.23 billion for the upcoming report, both lower than the previous year's same quarter [1] - The stock has a strong post-earnings history, with six out of the last eight sessions finishing higher, including a notable 13.4% increase in May [1] Group 2: Stock Performance and Options Activity - The options market is pricing in a post-earnings move of 10.8%, significantly higher than the average move of 4.9% over the past couple of years [1] - Over the last 10 weeks, the options pits have shown optimism, with a 50-day call/put volume ratio of 1.39, ranking higher than 85% of readings from the past year [1] Group 3: Current Stock Status - As of the latest update, Best Buy's stock is down 0.6% at $88.39, following three consecutive weeks of gains after a drop to the $78 support level [2] - Year-to-date, the stock has increased by 12.9% [2]

felixmizioznikov/iStock Editorial via Getty Images Introduction It's been two years since my last article on electronics-focused retailer Best Buy Co., Inc. (NYSE:BBY). In late August 2022 and in a follow-up article in November 2022, when inflation was still increasing and the Federal Reserve was aggressively raising interest rates, I rated BBY stock a buy, primarily due to its great fiscal 2022 results, solid operating fundamentals, and strong balance sheet. The macroeconomic outlook is not exactly rosy to ...

Wall Street analysts forecast that Best Buy (BBY) will report quarterly earnings of $1.15 per share in its upcoming release, pointing to a year-over-year decline of 5.7%. It is anticipated that revenues will amount to $9.23 billion, exhibiting a decline of 3.7% compared to the year-ago quarter.Over the last 30 days, there has been a downward revision of 0.8% in the consensus EPS estimate for the quarter, leading to its current level. This signifies the covering analysts' collective reconsideration of their ...

Wall Street expects a year-over-year decline in earnings on lower revenues when Best Buy (BBY) reports results for the quarter ended July 2024. While this widely-known consensus outlook is important in gauging the company's earnings picture, a powerful factor that could impact its near-term stock price is how the actual results compare to these estimates.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on August 29. On the ot ...

This article has been reviewed according to Science X's editorial process and policies . Editors have highlighted the following attributes while ensuring the content's credibility: Credit: Pixabay/CC0 Public Domain Best Buy customers can now get up-to-the-minute updates to find out when that big-screen television will be delivered or when a new fridge will arrive for installation thanks to AI technology. On Thursday, the electronics retailer debuted the live tracking feature for large deliveries, which c ...

Sales at U.S. retailers bounced back in July following June’s dip as Americans splurged on nonobligatory items like cars, furniture and appliances, to name a few. Consumers opened their wallets despite financial stress due to elevated interest rates and a weakening labor market.Anyhow, the unprecedented increase in consumer spending quelled recession fearmongering. What’s more, with inflationary pressure subsiding, consumer outlays are further likely to increase. Thus, stocks such as Best Buy Co., Inc. (BBY ...

Retail sales in the United States inched up 1% sequentially in July 2024, following a downwardly revised 0.2% drop in June and way better than forecasts of a 0.3% gain. It is the biggest increase since January 2023, with sales at motor vehicle and part dealers rising the most (3.6%), followed by sales at electronics and appliance stores (1.6%).Barring sales of food services, auto dealers, building materials stores and gasoline stations, sales rose 0.3%, compared to 0.9% in June and forecasts of 0.1%. Below ...

Global Research and Evidence Lab 14 August 2024 Best Buy Co. Inc. A Tough Lap or A Laptop Pop? Expecting an in-line 2Q; QTD comp and category trends will be key We think the most likely case is that BBY reports 2Q EPS inline to slightly better than the consensus EPS estimate of $1.17. That said, we think the market is expecting a total enterprise comp decline slightly below initial guidance for -3% (cons. also -3.0%, our model has a -3.5%). Our checks indicate sales trends improved a bit sequentially from 1 ...

Momentum investing is essentially the opposite of the tried-and-tested Wall Street adage -- "buy low and sell high." Investors following this investing style typically avoid betting on cheap stocks and waiting long for them to recover. They believe instead that one could make far more money in lesser time by "buying high and selling higher."Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth po ...