NYSE:BBYSpecialty Retail
Best Buy (BBY) Stock Shrugs Off Profit Surge As Margin Questions Linger
Best Buy stock slipped about 1% to US$82.44 today, which looks surprisingly muted given how strong the earnings headline was. The core story is simple: comparable sales rose 4.1% and adjusted earnings per share reached about US$1.47 in the quarter, while management lifted full year guidance on both revenue and profit.
The market reaction hints at caution, not celebration. Short term traders appear to be fading the move after a solid run into results, while the numbers point to a retailer that...