This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Why Best Buy (BBY) Stock Is Gaining Thursday Afternoon

NEW YORK (TheStreet) -- Best Buy (BBY - Get Report) was gaining 2.7% to $26.04 Thursday after beating analysts' estimates for earnings in the first quarter.

For the first quarter the electronics retailer reported earnings of 33 cents a share, 13 cents higher than analysts' estimates of 20 cents a share. Revenue fell -3.4% year-over-year to $9.03 billion for the quarter. Analysts surveyed by Thomson Reuters expected revenue of $9.2 billion for the quarter.

Comparable online sales grew 29% in the quarter thanks to a higher average order online, and an increase in the number of online orders taken in retail stores. Comparable-store sales fell 1.9% from the year-ago quarter, however. Best Buy expects comparable sales to be negative in the low-single digits in the second and third quarter due to a soft mobile phone category.

More than 11.3 million shares of Best Buy changed hands by 3:30 p.m., well above the average daily trading volume of about 6.5 million.

Must read: Warren Buffett's 25 Favorite Stocks

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

BBY Chart

BBY data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free

Check Out Our Best Services for Investors

Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
BBY $35.11 0.00%
AAPL $132.44 0.80%
FB $80.50 0.02%
GOOG $542.13 -0.07%
TSLA $246.31 0.28%

Markets

DOW 18,268.30 -17.44 -0.10%
S&P 500 2,129.92 -0.90 -0.04%
NASDAQ 5,096.9030 +6.1090 0.12%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs