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Best Buy Co. stock price

Best Buy Co. latest news:


  • 09/19/2017 06:54:46

    Best Buy aims for revenue of $43 billion in 2021

    Best Buy Co. Inc. set long-term financial goals and updated its "Best Buy 2020: Building the New Blue" growth strategy ahead of its investor day event, which begins at 2 p.m. ET Tuesday. Best Buy set a goal of $43 billion in revenue for fiscal 2021, versus $39.4 billion in fiscal 2017. The adjusted earnings per share goal is $4.75 to $5.00. The company plans to drive $600 million in annualized cost savings by the end of fiscal 2021. By the end of October, Best Buy will enhance the smart home area in all its stores, roll out the Best Buy Smart Home by Vivint home automation and security product to 450 stores and add 1,500 employees dedicated to smart home. And in two markets, the retailer is piloting a service, Assured Living, that allows adult children to check in on their aging parents. Best Buy shares are up 0.7% in premarket trading, and up 34.4% for the year so far. The S&P 500 index is up nearly 12% for 2017 to date.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 08/22/2017 14:11:05

    Dow enjoys best day in 4 months as stock market rallies to the close

    The Dow Jones Industrial Average on Tuesday registered its best day in about four months on the back of a resurgence in buying appetite, led by gains in technology and health-care stocks. The Dow closed nearly 200 points higher, or 0.9%, at about 21,900, representing its best single-session rise since April 25, when it climbed 232 points, or 1.1%, according to FactSet data. The price-weighted gauge's advance was supported by climbs in components Boeing Co. , Apple Inc. , and Goldman Sachs Group Inc. . Tuesday's uptrend also appeared to be bolstered by renewed enthusiasm in risk assets, like equities, following a tough past few weeks for stock benchmarks and worries about turmoil within President Donald Trump's administration, which could undermine the president's ability to push through previously pledged, business-friendly legislation. The Nasdaq Composite Index surged 1.4% at 6,297, snapping a 4-session slump and booking its best daily advance since June 28, while the S&P 500 index gained 1% at 2,452.Some market participants attributed the recent rally to a Politico report that said Trump's policy team was making progress on a plan for changes to tax law. In other corporate news, shares of DSW Inc. had its best gain in the shoe-retailer's history after strong quarterly results. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

  • 07/10/2017 09:23:50

    Best Buy's stock tumbles to pace S&P 500 decliners amid concerns over Amazon effect

    Shares of Best Buy Co. Inc. tumbled 7.2% in active morning trade Monday, enough to pace the S&P 500 decliners, amid increasing concerns over competition from Amazon.com Inc. . The electronics retailer's stock had been relatively immune to the Amazon effect, as the stock has climbed 11% over the past three months and 27% year to date, while the SPDR S&P Retail ETF had lost 7.7% over the past three months and 12% this year. But Recode reported Monday, citing "multiple sources," that Amazon has been hiring a number of people to offer free Alexa consultations and in-home product installations for a fee, which would compete with Best Buy's "Geek Squad" installation and repair service. The new services are currently available in seven West Coast cities, the Recode report said, and it appears a large expansion is in the works to some states including Florida, Texas and the New York area. Best Buy's stock volume topped 5.4 million shares within the first two hours after the open, already more than the full-day average of about 5.2 million shares. Amazon's stock rallied 1.4% in morning trade, and has rallied 9.4% over the past three months and 32% year to date. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

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