Best Buy Stock Brushes Off Q2 Earnings Beat

Core Insights - Best Buy Co Inc (NYSE:BBY) shares fell 6.3% to $70.71 despite beating second-quarter estimates with earnings of $1.28 per share on revenue of $9.44 billion, indicating concerns over rising prices and tariff issues [1] - The stock is facing its fourth consecutive post-earnings decline, extending its year-to-date deficit to 17.5%, and has struggled with resistance around the $75 level since mid-March [2] - Analysts are generally bearish, with 15 out of 23 firms rating the stock as "hold" or worse, reflecting a shift in sentiment following the recent digital marketplace launch [3] Options Activity - Options trading indicates a bearish sentiment, with 11,000 puts traded, which is five times the average put volume, compared to 7,863 calls [4] - The November 70 put and the weekly 8/29 70-strike put are attracting significant attention, with new positions being opened for both [4]