GameStop Stock Soaring After Best Buy Results
Shares of videogame retailer GameStop (GME) - Get GameStop Corporation Report were getting a boost by 3.48% to $23.50 in premarket trading on Thursday, after electronics retailer Best Buy (BBY) - Get Best Buy Co. Inc. Report credited strong gaming sales in its latest earnings results.
Best Buy's first quarter results came in above expectations.
"Compared to our expectations going into the quarter, our revenue was higher due to strong performance in gaming, a better-than-expected result in mobile, and the improvement of overall sales trends due to the arrival of delayed federal tax refund checks," Best Buy CEO Hubert Joly said.
TheStreet Recommends
Retail's downturn giving you the blues? Jim Cramer has a list of retailers that are currently oversold, giving investors a leg up one of the market's most volatile sectors.
Read More Trending Articles:
- Bullish Puma Investor Talks Neratinb FDA Panel Win, Next Steps and Takeout Potential
- Biotech Movers: Positive Phase Three Results For Roclatan Send Aerie Shares Soaring
- Best Buy's Stock Is Blowing Up After Massive Earnings Beat - What You Quickly Need to Know
- Staples Rejects Takeover Bid From Cerberus Capital
- Step Away From the Ledge: Cramer's 'Mad Money' Recap (Wednesday 5/24/17)
