Note: The following is an excerpt from this week's Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>
Note: The following is an excerpt from this week's Earnings Trends report. You can access the full report that contains detailed historical actual and estimates for the current and following periods, please click here>>>
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It was another volatile session for the stock market Tuesday as tariffs on China, Mexico and Canada fueled fears of stagflation. The post Stock Market Extends Losses; Amid Stock Carnage, Be Patient And Wait For New Buys appeared first on Investor's Business Daily.
Major U.S. equities indexes moved lower as tariffs went into effect on imports from major trading partners Mexico and Canada, in addition to an increase in the existing levy on goods from China.
Best Buy (BBY) is signaling a potential turnaround after years of struggling sales figures. The electronics retailer reported surprisingly strong fourth-quarter results on Tuesday, exceeding Wall Street's expectations and putting an end to a three-year slide in sales growth.
Catalysts anchors Seana Smith and Madison Mills cover the morning's top market stories as equities continue to react to the Trump administration's latest tariffs against Canada, Mexico, and China. Best Buy (BBY) shares take a hit Tuesday morning as the electronics retailer's outlook on tariffs overshadows its latest earnings beat.
Shares of Best Buy (BBY -12.75%) plunged on Tuesday, following a robust earnings report with a side of worrisome management comments. The stock price dropped by as much as 15.9% in the morning session, recovering to a 13.2% loss by 1 p.m.
BBY's fiscal fourth-quarter results reflect lower y/y revenues. The gross margin expands 40 bps to 20.9% in the quarter.
Best Buy said Tuesday (March 4) that the U.S. tariffs on China that went into effect Feb. 4 could have a negative impact of about one point of comparable sales if they remain in place for a full year.
Best Buy (BBY) shares plunged nearly 15% to lead S&P 500 decliners Tuesday when the electronics retailer warned that new tariffs and inflation will negatively impact sales.
Best Buy Co Inc (NYSE:BBY) shares tumbled 14% on Tuesday after the retailer issued a cautious annual outlook, warning of sluggish demand for high-ticket electronics amid tariff concerns and shifting consumer priorities. The company forecasted annual comparable sales and earnings below market expectations, citing inflationary pressures that are keeping shoppers wary of big purchases like appliances and gaming consoles.