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Update: Best Buy's Fiscal Q2 Adjusted Earnings, Revenue Increase; Lifts Fiscal 2027 Outlook

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(Updates to include fiscal 2027 comparable sales outlook in the seventh paragraph and most recent stock move in the last paragraph)

Best Buy (BBY) reported fiscal Q2 adjusted earnings Thursday of $1.47 per diluted share, up from $1.28 a year earlier.

Analysts polled by FactSet expected $1.39.

Revenue for the quarter ended Aug. 1 was $9.78 billion, compared with $9.44 billion a year earlier.

Analysts polled by FactSet expected $9.59 billion.

The company raised its fiscal 2027 adjusted EPS guidance to $6.70 to $6.90, compared with the prior outlook of $6.30 to $6.60, and expects revenue of $42.30 billion to $42.80 billion, compared with $41.20 billion to $42.10 billion previously.

Analysts polled by FactSet expect $6.62 in adjusted EPS on revenue of $42.08 billion.

Best Buy said it now expects fiscal 2027 comparable sales growth of 1.9% to 3%, compared with its prior guidance of a decline of 1% to a growth of 1%.

Best Buy shares were down more than 4% in premarket trading Thursday.

Price: $83.40, Change: $-4.04, Percent Change: -4.62%

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Wire

Update: Magellan Financial Group Fiscal 2026 Operating Earnings, Revenue Down; Shares Fall 12%

(Updates to add stock movement in the headline and the last paragraph)Magellan Financial Group (ASX:MFG) logged AU$0.828 in operating earnings per share for fiscal 2026, compared with AU$0.898 a year ago, a Thursday filing showed.For the 12 months ended June 30, revenue and other income was AU$195.6 million versus AU$318.9 million previously, the Australia-listed financial services firm added.The board declared a final dividend of AU$0.255 per share, payable Sept. 16 to shareholders on record as of Sept. 2. A year ago, the company paid a final dividend AU$0.259 per share and special dividend of AU$0.21 per share.The board has revised the group's dividend policy from fiscal 2027, targeting a payout ratio of 60% to 90% of operating profit after tax.The company's shares fell 12% in recent Thursday trade.

ASX:MFG
Wire

Tenable to Join S&P SmallCap 600 Index

Tenable (TENB) will join the S&P SmallCap 600 index before market open on Aug. 31, the S&P Dow Jones Indices said in a late Wednesday statement.Tenable will replace Leggett & Platt (LEG), which is being acquired by Somnigroup International (SGI), according to the statement.

$LEG$SGI$TENB
Wire

NeoGenomics Wins Expanded Medicare Coverage for RaDaR ST Immunotherapy Monitoring

NeoGenomics (NEO) said its RaDaR ST molecular residual disease assay received expanded Medicare coverage to include immunotherapy response monitoring for patients with late-stage solid tumors.The determination from the Centers for Medicare & Medicaid Services' Molecular Diagnostic Services Program is the third Medicare-covered indication for RaDaR ST, NeoGenomics said Wednesday in a statement.The coverage allows use of the assay to monitor response to immune-checkpoint inhibitor therapy, and NeoGenomics said it has two additional RaDaR ST submissions pending.NeoGenomics shares rose 2.1% in after-hours trading.

$NEO