Best Buy ( BBY) is trending as the retailer suspended profit forecasts and share buybacks for the rest of the year. The retailer cut its fiscal year earnings forecast but did not release an updated exact figure. It said it did not expect to update its outlook for the year. Best Buy, who recently named Hubert Joly as its new chief executive reported net income of $12 million, or 4 cents a share, in the second quarter, down from $150 million, or 39 cents a share, a year go. Best Buy reported weak demand for electronics in key markets like China, which had weaker results than Europe. The company suspended repurchases for the current year as its new CEO is transitioned into his position. Best Buy bought back $122 million worth of shares in the quarter.
Logitech International SA ( LOGI) is another popular search. The company has introduced a washable keyboard for PCs. The Logitech Washable Keyboard K310 can be washed multiple times and even submerged in up to 11 inches of water and left out to dry. Holes in the back of the keyboard allows water to drain, while characters on the keyboard are laser-printed and sealed with a UV coating to prevent fading.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.