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 ...

Best Buy (BBY) appears an attractive pick, as it has been recently upgraded to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices.The sole determinant of the Zacks rating is a company's changing earnings picture. The Zacks Consensus Estimate -- the consensus of EPS estimates from the sell-side analysts covering the stock -- for the current and following years is tracked by the system.The power of a ch ...

It is 100% certain that the Federal Reserve will reduce interest rates at its next meeting in September. Lowering borrowing costs has many investors wondering how interest rate cut stocks could perform. The cut may begin an easing monetary policy cycle that may continue for several years, depending on economic conditions.Undoubtedly, the level of interest rates impacts stock market performance. Historically, when interest rates fall, stocks tend to rise. Lower yields make bonds less attractive, prompting in ...

Inflation is trending downward and approaching the Federal Reserve’s 2% target and unemployment is heading higher. The Fed is widely expected to begin cutting interest rates at its September meeting. In a recent article, Morningstar projected that the central bank’s target range would sink. It would go down from its current 5.25%-5.5% to 4.75%-5% at the end of this year and just 3%-3.25% at the end of 2025. Truth be told, interest rate cuts could spell big things for a lot of stocks. Similarly, Citi analyst ...

Best Buy Company Inc.’s (BBY) operational efficiency, strategic growth investments and customer-centric initiatives have positioned it well in a challenging market. The company's financial performance, marked by expanding margins and increased operating income, reflects its effective cost management and innovative approaches to enhancing customer experience. With continuous investments in technology, store formats and membership programs, Best Buy is not only navigating the current market challenges but als ...

Best Buy Company Inc. (BBY) has been focusing on technological advancements and customer experience, positioning it for future growth. By enhancing operational efficiencies, optimizing supply chain processes, and innovating customer engagement, Best Buy demonstrates its resilience.AI Collaborations & Digital Transformation Bode WellBest Buy’s collaborations with Google Cloud and Accenture underscore its strategy to integrate generative AI technologies into its customer service framework. This virtual assist ...

Best Buy TodayBBYBest Buy$86.58 -2.75 (-3.08%) 52-Week Range$62.30▼$93.72Dividend Yield4.34%P/E Ratio15.16Price Target$90.87Add to WatchlistConsumer electronics retailer Best Buy Inc. NYSE: BBY stock surged to 52-week highs following a robust fiscal Q1 2025 performance. The company offers a vast selection of hardline products, including laptops, desktop computers, appliances, televisions, cameras, mobile phones, video game consoles, music, and movies. It’s one of the few remaining brick-and-mortar showroom ...