Stocks Rise as Best Buy Beats Estimates; Oil Prices Decline

U.S. stocks shrugged off a decline in oil prices Tuesday, starting the trading session higher amid better-than-expected results from Best Buy (BBY) - Get Report . The company reported a 0.8 percent increase in second quarter same store sales, while analysts had expected a 0.5 percent decrease. Earnings per share of $0.57 beat estimates of $0.43. Revenue of $8.53 billion topped forecasts of $8.39 billion. Analysts are still concerned about the company's long-term prospects, especially amid competition from Amazon (AMZN) - Get Report . Meanwhile, shares of The J.M. Smucker Company (SJM) - Get Report slipped 4.6 percent on mixed quarterly results. Profit of $1.86 a share topped estimates of $1.74, but revenue declined 7 percent year-over-year to $1.8 billion, missing estimates of $1.9 billion. Shares of Square (SQ) - Get Report surged 4.2 percent after the analysts at Stifel upgraded the stock to buy from hold amid expectations of increasing market share in the quarters to come. TheStreet's Scott Gamm reports from Wall Street.