Best Buy Surges on Earnings Beat; Jobless Claims Hit 4-Week High

Stocks were slightly lower after initial jobless claims hit a four-week high, climbing 10,000 to 274,000. The measure, however, remained near 15-year lows. Best Buy (BBY) moved higher after beating quarterly profit and sales estimates thanks to strong demand for smartphones and large-screen TVs. The retailer earned 37 cents a share, 8 cents higher than expected. Salesforce.com (CRM) climbed on a better-than-expected quarter and after raising its full-year revenue guidance. The cloud computing company expects sales to increase more than 20% this year on increased subscription revenue. Lumber Liquidators (LL) plummeted after CEO Robert Lynch resigned.