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Take-Two 'GTA VI' Pre-Order Data Indicate 'Robust' Demand, B. Riley Says
US Markets

Take-Two 'GTA VI' Pre-Order Data Indicate 'Robust' Demand, B. Riley Says

Take-Two Interactive Software's (TTWO) "Grand Theft Auto VI" pre-order tracking suggests "robust" demand for the highly anticipated video game ahead of its commercial launch in November, B. Riley Securities said Friday.Two-week tracking of digital storefronts and retail websites showed GTA VI was the top-selling item across all monitored platforms last month, when pre-orders started, and among the top-ranked items in early July, according to the brokerage. The tracking covered Sony's (SONY) PlayStation Store, Microsoft's (MSFT) Xbox Live, Amazon.com (AMZN), Walmart (WMT), Best Buy (BBY), and GameStop (GME)."While this analysis was qualitative in nature, we believe findings suggest robust demand for the game," B. Riley Managing Director Drew Crum said in a note to clients. The analysis supports the brokerage's "positive fundamental outlook" for Take-Two's shares, according to Crum.B. Riley maintained its buy rating on the video game publisher's stock with a $300 price target.The company's shares were down 1% in Friday afternoon trade, bringing its year-to-date losses to 4.8%.The Ultimate Edition of the game, which is priced at $99.99, was the most popular version on PlayStation Store and Xbox Live, according to B. Riley."Pre-orders were heavily weighted to PS5 (stock keeping units), which is not surprising given Sony's console system has outsold Xbox Series X/S by more than 3-to-1 (by our estimation) during the current hardware cycle," Crum said. "We forecast GTA VI full game net bookings at $2.5 billion (37M units x $68 ASP), which spans (over four) months."Take-Two could provide updates on pre-order performance for the game with its latest quarterly financial results next month, potentially providing a lift for the company's stock, Crum said.B. Riley expects net bookings of $1.35 billion for the quarter, which it said is below Wall Street's estimate of $1.40 billion. The brokerage's non-GAAP earnings forecast of $0.34 a share exceeds consensus of $0.33, according to the note.Price: $243.89, Change: $-2.21, Percent Change: -0.90%

$AMZN$BBY$GME$MSFT$SONY$TTWO$WMT
Insider Trading

Best Buy Insider Sold Shares Worth $32,699,883, According to a Recent SEC Filing

Richard M Schulze, Chairman Emeritus, on June 25, 2026, sold 418,601 shares in Best Buy (BBY) for $32,699,883. Following the Form 4 filing with the SEC, Schulze has control over a total of 12,532,468 common shares of the company, with 12,532,468 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/764478/000122520826006212/xslF345X05/doc4.xml

$BBY
Best Buy CEO Transition Expected To Be Smooth; Demand For Innovation Strong, Truist Says
US Markets

Best Buy CEO Transition Expected To Be Smooth; Demand For Innovation Strong, Truist Says

Best Buy (BBY) is expected to navigate its chief executive officer transition smoothly despite cautious consumer spending trends as demand for innovation remains strong across gaming, computing hardware, and artificial intelligence wearables, Truist Securities said in a note Monday.In April, Best Buy said Chief Executive Corie Barry will step down at the end of October and be succeeded by Chief Customer, Product and Fulfillment Officer Jason Bonfig.Bonfig has held leadership roles across multiple parts of Best Buy's business during his 27-year career, Truist analyst Scot Ciccarelli said in the note, adding that the transition appears to be well planned."We don't sense any significant changes in strategy are on the horizon outside of speeding up everything they are already doing, including trying to better capitalize on innovative technologies," Ciccarelli wrote.Consumer spending has been cautious, with shoppers remaining selective and focused on value, Truist said. However, consumers are willing to spend on higher-priced products when tied to innovation and new features. Demand remains firm in categories such as gaming, computing hardware and AI wearables, the note added.Truist said computing has now posted eight straight quarters of positive comparable sales, with growing interest in newer technologies such as smart rings. The firm added that an improving innovation cycle appears to be emerging from the vendor community.Meanwhile, Best Buy's appliance business has been "disadvantaged" as demand has been driven largely by replacement purchases, Truist said. However, faster delivery capabilities and increased inventory deployment have helped improve trends, with comparable sales moving to roughly flat from double-digit declines in recent quarters.The brokerage maintained its Hold rating on the stock, with a price target of $81.

$BBY
Insider Trading

Best Buy Insider Sold Shares Worth $6,366,547, According to a Recent SEC Filing

Richard M Schulze, Chairman Emeritus, on June 15, 2026, sold 81,399 shares in Best Buy (BBY) for $6,366,547. Following the Form 4 filing with the SEC, Schulze has control over a total of 12,951,106 common shares of the company, with 12,951,106 controlled indirectly.SEC Filing:https://www.sec.gov/Archives/edgar/data/764478/000122520826006100/xslF345X05/doc4.xml

$BBY
Equities

S&P 500 Posts Monthly Gain to New High, Ninth Straight Weekly Rise

The Standard & Poor's 500 index rose 1.4% this week, marking its ninth consecutive weekly increase and ending the trading month with a 5.15% climb to a record closing high.The S&P 500 ended the week at 7,580.06, its highest close ever. The index also posted a record intraday high on Friday at 7,599.38.The last time the S&P 500 had a weekly winning streak this long was in late 2023. It is now up 11% this year.Friday marked the final trading day of May, a month of consistent weekly gains that followed a 10% jump in April as investors' worries about the war in Iran waned. On Friday, hopes for a peace deal increased as President Donald Trump said on Truth Social that he was meeting in the Situation Room to make a final determination on a memorandum of understanding between the US and Iran.Economic data this week showed the US economy expanded at a slower rate in the first quarter than previously estimated as consumer spending growth decelerated, according to the second estimate by the Bureau of Economic Analysis. Real gross domestic product increased at a 1.6% annualized rate in the March quarter, the report said, down from a 2% increase reported in the initial estimate.The advance this week wasn't broad; only four of the S&P 500's 11 sectors rose, led heavily by a 4.6% jump in the technology sector. The consumer discretionary rose 1.5%, materials added 1.2% and industrials edged up 0.8%.Dell Technologies (DELL) was the best performer in the technology sector, with its stock soaring 43% on the week as the company reported record fiscal first-quarter results that surpassed Wall Street's estimates amid a surge in demand for artificial intelligence-optimized servers. Dell also boosted its fiscal 2027 outlook.Super Micro Computer's (SMCI) stock also boosted the technology sector, with its stock surging 30% as the company said it is collaborating with Taiwanese authorities to prevent illicit diversion of its servers into the restricted Chinese market.AppLovin (APP) was also strong, with its stock jumping 27% as the company reported Q1 earnings per share and revenue above year-earlier results and analysts' mean estimates. AppLovin also forecast Q2 revenue above the Street view.In addition, NetApp (NTAP) shares climbed 25% as the company posted fiscal Q4 adjusted earnings per share and revenue above year-earlier results and analysts' expectations. NetApp also issued fiscal 2027 guidance above Street consensus views.Best Buy (BBY) led the week's gains in consumer discretionary, with its stock leaping 26%. The electronics retailer's fiscal first-quarter results came in stronger than expected and Chief Financial Officer Matt Bilunas said its comparable sales "have started strong in May, with month-to-date growth up high single digits." It has been years since Best Buy generated a high-single-digit increase in comparable sales even for a couple-week period, Truist Securities said in a note.On the downside, the energy sector fell 5.4% on the week, followed by a 3.2% drop in consumer staples, a 2.1% decline in utilities and a 1.4% slip in real estate. Financials, health care and communication services also edged lower.The energy sector's drop came as crude oil futures also fell on the week amid chatter about the US and Iran nearing a peace deal. Hardest-hit stocks included shares of ONEOK (OKE), down 11%, and Williams (WMB), down 9%.Next week, earnings reports are expected from companies including Palo Alto Networks (PANW), Broadcom (AVGO), CrowdStrike Holdings (CRWD) and Medtronic (MDT).In economic data, all eyes will be on the government's May employment report due Friday. Other reports expected next week include April construction spending and factory orders.

Dow JonesNasdaq CompositeS&P 500$APP$BBY$DELL$NTAP$OKE$SMCI$WMB
Best Buy's Post-Earnings Rally Leaves Shares More Evenly Balanced, UBS Says
US Markets

Best Buy's Post-Earnings Rally Leaves Shares More Evenly Balanced, UBS Says

Best Buy's (BBY) sharp rally following stronger-than-expected fiscal first-quarter results leaves the shares more evenly balanced in the near term, UBS Securities said in a report.The electronics retailer on Thursday reported adjusted earnings of $1.28 a share in the three months ended May 2, up from $1.15 a year earlier, while revenue rose to $8.94 billion from $8.77 billion. Both topped Wall Street's estimates. The stock jumped 16% after the results and added 2.9% on Friday.UBS said it still expects Best Buy to deliver outsized earnings growth of more than 7% and sees momentum continuing into May, helped by broad-based category gains and demand for newer products such as collectibles, wearables and AI glasses. Much of that optimism is now reflected in the stock, the report said.Best Buy reaffirmed its fiscal 2027 outlook and appears to have left some cushion in its near-term guidance, UBS said. Even so, lapping last year's Nintendo Switch launch and uncertainty around new TV demand may keep the shares trading in a range, the report said.Best Buy continues to show "it's a formidable specialty retailer that adapts well" to shifts in the consumer-electronics landscape, UBS said, adding that the CEO transition looming in November may contribute to a stop-and-start trading pattern.UBS downgraded its rating on Best Buy to neutral from buy and increased its price target to $86 from $85. The shares have climbed 15% this year.Price: $76.88, Change: $+2.14, Percent Change: +2.86%

$BBY
Research

UBS Downgrades Best Buy to Neutral From Buy, Adjusts Price Target to $86 From $85

Best Buy (BBY) has an average rating of hold and mean price target of $74.78, according to analysts polled by FactSet.

$BBY
Sectors

Sector Update: Consumer Stocks Mixed Late Afternoon

Consumer stocks were mixed late Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) fractionally lower and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) adding 0.5%.In corporate news, Burlington Stores (BURL) increased its full-year outlook Thursday, but its guidance for the ongoing quarter indicated a sequential slowdown in comparable sales growth. Its shares fell 9%.Caesars Entertainment (CZR) has agreed to be acquired and taken private by Fertitta Entertainment in an all-cash deal worth roughly $17.6 billion, the companies said in separate statements Thursday. Caesars shares were up 1%.Dollar Tree (DLTR) shares jumped past 17% after it posted higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 adjusted EPS guidance.Best Buy (BBY) shares climbed 16% after it reported higher-than-expected fiscal Q1 adjusted earnings and revenue.

$BBY$BURL$CZR$DLTR
Best Buy Affirms Full-Year Outlook Following First-Quarter Beat; Shares Surge
US Markets

Best Buy Affirms Full-Year Outlook Following First-Quarter Beat; Shares Surge

Best Buy (BBY) maintained its full-year guidance as the electronics retailer's fiscal first-quarter results came in stronger than expected, sending its shares soaring on Thursday.The company continues to expect fiscal 2027 adjusted per-share earnings of $6.30 to $6.60 on revenue of $41.2 billion to $42.1 billion. Analysts in a FactSet survey are looking for $6.48 in non-GAAP EPS on revenue of $41.75 billion. Comparable sales are still projected to be down 1% to up 1%, while the Street anticipates a 0.4% increase.For the quarter ended May 2, adjusted EPS rose to $1.28 from $1.15 a year earlier, surpassing the consensus estimate of $1.23. Revenue increased to $8.94 billion from $8.77 billion, while analysts expected $8.82 billion. Comparable sales grew 2%, exceeding the Street's 0.9% growth projection.Gaming, computing, mobile phones and services drove domestic comparable sales, which rose 1.8%, the company said.Shares of Best Buy soared 19% intraday Thursday. The stock is up about 15% since the start of the year.The company is projecting comparable sales to grow about 1% in the second quarter as it laps last year's "very successful gaming launch" in June, Chief Financial Officer Matt Bilunas said on an earnings call, according to a FactSet transcript."Comparable sales have started strong in May, with month-to-date growth up high single digits," Bilunas said in a statement.It's been years since Best Buy generated a high-single-digit increase in comparable sales even for a couple-week period, Truist Securities said in a note."This start seems to suggest that there could be upside to both (second-quarter) and the full-year guide that they just reiterated," Truist Managing Director Scot Ciccarelli wrote.As previously announced, Best Buy Chief Executive Corie Barry will step down later this year, to be replaced by Jason Bonfig, the company's current chief customer, product and fulfillment officer.Price: $76.60, Change: $+12.06, Percent Change: +18.68%

$BBY
Sectors

Sector Update: Consumer Stocks Edge Higher Thursday Afternoon

Consumer stocks edged up Thursday afternoon, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) fractionally higher and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) increasing 0.1%.In corporate news, Caesars Entertainment (CZR) has agreed to be acquired and taken private by Fertitta Entertainment in an all-cash deal worth roughly $17.6 billion, the companies said in separate statements Thursday. Caesars shares were up 0.9%.Dollar Tree (DLTR) shares jumped past 18% after it posted higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 adjusted EPS guidance.Best Buy (BBY) shares climbed almost 18% after it reported higher-than-expected fiscal Q1 adjusted earnings and revenue.

$BBY$CZR$DLTR
Asia Markets

US Equity Indexes Rise Amid Rumors of Iran Peace Deal, Surprise Easing in Fed's Preferred Inflation Measure

US equity indexes rose amid speculation of an agreement over a path to end the war against Iran and as the Federal Reserve's preferred inflation rate unexpectedly eased in April.The Nasdaq Composite climbed 0.8% to 26,880.1, the S&P 500 advanced 0.6% to 7,562.2, and the Dow Jones Industrial Average edged up by less than 0.1% to 50,678.5 after midday on Thursday.Healthcare and technology led the gainers intraday. Financials, utilities, and consumer staples were among the decliners.Negotiators for the US and Iran reached an agreement on a 60-day memorandum of understanding to extend the ceasefire and begin talks on Iran's nuclear program, but President Donald Trump has not yet given final approval, Axios reported Thursday, citing two US officials. The White House didn't immediately reply to a request for comment.Brent crude futures fell 0.6% to $93.70. West Texas Intermediate crude oil futures rose 0.2% to $88.86, off session highs of more than 1% gain.In precious metals, gold futures jumped 1.1% to $4,532.3, and silver futures climbed 1.4% to $75.91.Most US Treasury yields fell, with the 10-year down 2.8 basis points to 4.46%. The two-year declined 1.5 basis points to 4.02%.On a month-on-month basis, the personal consumption expenditures, or PCE, price index slowed to 0.4% from 0.7% in March, Bureau of Economic Analysis data showed Thursday. The Street expected 0.5% in a Bloomberg-compiled poll. The core PCE price index, which excludes the more volatile food and energy and is the Fed's preferred inflation gauge, grew by 0.2% versus March's 0.3%, also the consensus for April.Annually, the PCE index jumped 3.8% in April, the largest increase since May 2023, up from 3.5% in March but in line with market expectations. Core PCE climbed to 3.3%, as expected, from the 3.2% in March.US economic growth, as measured by gross domestic product, rose by 1.6% in Q1, revised lower from a 2.0% increase in the advance estimate. No revision was expected in a survey compiled by Bloomberg. GDP rose by 0.5% in Q4.New orders for US durable goods rose by 7.9% in April following a 1.3% increase in March, beating the 4.0% gain forecast in a survey compiled by Bloomberg. Excluding a 21.5% surge in transportation orders, new orders would have been up 1.1% in April after a 1.1% increase in March. Expectations were for a 0.5% gain.In company news, Dollar Tree (DLTR) shares soared 18%, the second-biggest gainer on the S&P 500, after the company posted higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 adjusted EPS guidance.The worst performer on the S&P 500 and the Nasdaq was Synopsys (SNPS), down 8.4%, after the company reported a decline in fiscal Q2 non-GAAP earnings.Best Buy (BBY) shares catapulted 18%, the top performer on the S&P 500, after the firm reported higher-than-expected fiscal Q1 adjusted earnings and revenue.

Dow JonesNasdaq CompositeS&P 500$BBY$DLTR$SNPS
Wire

Jefferies Adjusts Best Buy PT to $89 From $83, Maintains Buy Rating

Best Buy (BBY) has an average rating of Hold and mean price target of $71.89, according to analysts polled by FactSet.Price: $76.26, Change: $+11.72, Percent Change: +18.16%

$BBY
Wire

Top Midday Stories: US Reportedly Reaches Deal With Iran, Needs Trump's Approval; Caesars to be Acquired by Fertitta for $17.6 Billion

The S&P 500 and Nasdaq Composite were up, while the Dow Jones Industrial Average was down slightly in late-morning trading Thursday after Axios reported that US and Iranian negotiators have reached an agreement on a 60-day memorandum of understanding that extends the ceasefire and launches negotiations on Iran's nuclear program. The deal is waiting the final approval of President Donald Trump, the report said.The personal consumption expenditures index rose by 0.4% in April, below the 0.5% gain expected, lifting the year-over-year rate to 3.8% from 3.5%. The core PCE price index, which excludes gas and food prices, increased by 0.2%, below the 0.3% gain expected and following a 0.3% gain in March. The year-over-year rate accelerated to 3.3% from 3.2% in the previous month.In company news, Caesars Entertainment (CZR) has agreed to be acquired by Fertitta Entertainment in an all-cash deal valued at $17.6 billion, including the assumption of around $11.9 billion of outstanding debt, Caesars said Thursday. Under the terms of the deal, Caesars shareholders will receive $31 in cash for each share owned, the company said. Caesars shares were up 1.3% around midday.Snowflake (SNOW) reported fiscal Q1 adjusted net income late Wednesday of $0.39 per diluted share, up from $0.24 a year earlier and above the FactSet consensus analyst estimate of $0.32. Fiscal Q1 revenue was $1.39 billion, up from $1.04 billion a year ago and above the FactSet consensus of $1.32 billion. For fiscal Q2, the company said it expects product revenue of $1.415 billion to $1.420 billion, above the FactSet consensus of $1.37 billion. Snowflake shares were up 34.0%.Salesforce (CRM) reported fiscal Q1 adjusted earnings late Wednesday of $3.88 per diluted share, up from $2.58 a year earlier and above the FactSet consensus of $3.13. Fiscal Q1 revenue was $11.13 billion, up from $9.83 billion a year ago and above the FactSet consensus of $11.05 billion. For fiscal Q2, the company said it expects adjusted EPS of $3.25 to $3.27 on revenue of $11.27 billion to $11.35 billion. Analysts polled by FactSet expect $3.25 and $11.35 billion, respectively. Separately, Salesforce will deploy its AI-driven Agentforce Health platform to improve efficiency at CVS Health (CVS) call centers, the companies said Thursday. Salesforce shares were up 0.4%, while CVS shares were up 1.3%.Marvell Technology (MRVL) reported fiscal Q1 adjusted earnings late Wednesday of $0.80 per diluted share, up from $0.62 a year earlier and in line with the FactSet consensus. Fiscal Q1 revenue was $2.42 billion, up from $1.9 billion a year ago and above the FactSet consensus of $2.41 billion. For fiscal Q2, the company said it expects adjusted EPS of $0.93, plus or minus $0.05, on revenue of $2.7 billion, plus or minus 5%. Analysts polled by FactSet expect $0.90 and $2.6 billion, respectively. Marvell shares were down 1.3%.Canadian Imperial Bank of Commerce (CM) reported fiscal Q2 adjusted earnings Thursday of 2.54 Canadian dollars ($1.83) per diluted share, up from CA$2.05 a year earlier and above the FactSet consensus of CA$2.46. Fiscal Q2 revenue was CA$8.01 billion, up from CA$7.02 billion a year ago. The bank said it plans to buy for cancellation up to 30 million shares, representing about 3.3% of total outstanding shares. Also, the company has agreed to sell its 91.7% stake in CIBC Caribbean Bank to Bank of N.T. Butterfield & Son (NTB) for a total consideration of about $1.6 billion, the acquiring company said. CIBC shares were down 4.6%.Best Buy (BBY) reported fiscal Q1 adjusted earnings Thursday of $1.28 per diluted share, up from $1.15 a year earlier and above the FactSet consensus of $1.23. Fiscal Q1 revenue was $8.94 billion, up from $8.77 billion a year ago and above the FactSet consensus of $8.83 billion. The company reiterated its fiscal 2027 guidance for adjusted EPS of $6.30 to $6.60 and revenue of $41.20 billion to $42.10 billion. Best Buy shares were up 16.3%.Eli Lilly's (LLY) weight-loss drugs secured coverage from the three largest US pharmacy benefit managers, the drugmaker said Thursday. Coverage for Foundayo through CVS Health's CVS Caremark Commercial Template plans will begin Monday, while access for existing Zepbound patients will continue without interruption and expand further by Oct. 1, the company said. Eli Lilly shares were up 4.1%.Price: $29.15, Change: $+0.36, Percent Change: +1.27%

$BBY$CM$CRM$CVS$CZR$LLY$MRVL$NTB$SNOW
Research

Research Alert: CFRA Maintains Hold Opinion On Shares Of Best Buy Co., Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our target by $8 to $77 using a forward P/E of 11.7x compared to the three-year historical average at 11.6x and the five-year average at 12.0x. We are increasing our FY 27 (Jan.) EPS estimate by $0.02 to $6.60 and FY 28's by $0.25 to $7.05. Both periods are subject to the risk of a slower U.S. economy and higher cost of living that hurts consumer discretionary spending, including consumer electronics and appliances. A new CEO brings vitality and the experience to create new merchandising and operational changes that should fuel higher top-line growth and wider margins. Our revenue projections are $42.0B in FY 27 and $42.6B in FY 28. Same-store comp sales guidance is -1.0% to +1.0%, which excludes new initiatives to drive higher sales per square feet in existing store (management stated on the earnings call that empty space in stores may represent a sales opportunity). Key gaming, computing, mobile phones and services categories are major sales growth drivers.

$BBY
Research

Research Alert: CFRA Maintains Hold Opinion On Shares Of Best Buy Co., Inc.

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:We raise our target by $8 to $77 using a forward P/E of 11.7x compared to the three-year historical average at 11.6x and the five-year average at 12.0x. We are increasing our FY 27 (Jan.) EPS estimate by $0.02 to $6.60 and FY 28's by $0.25 to $7.05. Both periods are subject to the risk of a slower U.S. economy and higher cost of living that hurts consumer discretionary spending, including consumer electronics and appliances. A new CEO brings vitality and the experience to create new merchandising and operational changes that should fuel higher top-line growth and wider margins. Our revenue projections are $42.0B in FY 27 and $42.6B in FY 28. Same-store comp sales guidance is -1.0% to +1.0%, which excludes new initiatives to drive higher sales per square feet in existing store (management stated on the earnings call that empty space in stores may represent a sales opportunity). Key gaming, computing, mobile phones and services categories are major sales growth drivers.

$BBY
Wire

Wells Fargo Adjusts Price Target on Best Buy to $65 From $60, Maintains Equalweight Rating

Best Buy (BBY) has an average rating of hold and mean price target of $71.61, according to analysts polled by FactSet.Price: $73.80, Change: $+9.26, Percent Change: +14.34%

$BBY
Sectors

Sector Update: Consumer Stocks Mixed Pre-Bell Thursday

Consumer stocks were mixed pre-bell Thursday, with the State Street Consumer Staples Select Sector SPDR ETF (XLP) up 0.6% and the State Street Consumer Discretionary Select Sector SPDR ETF (XLY) 0.1% lower.Dollar Tree (DLTR) shares were up more than 18% after the company posted higher fiscal Q1 adjusted earnings and revenue, and raised its fiscal 2026 adjusted EPS guidance.Best Buy (BBY) stock was up more than 9% after the company reported higher fiscal Q1 adjusted earnings and revenue.JD.com (JD) is under an in-depth investigation by the European Commission over its proposed acquisition of Ceconomy due to concerns that foreign subsidies may have distorted the deal process, the agency said. JD.com shares were down more than 2% premarket.

$BBY$DLTR$JD$XLP$XLY
Research

Research Alert: Best Buy Delivers Q1 Fy 27 Earnings And Revenue Beat On Strong Comparable Sales

CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:BBY posted solid Q1 FY 27 (Jan.) results with revenue of $8.936B (+1.9% Y/Y) and comparable sales growth of 2.0% vs. -0.7% decline in the prior year. GAAP EPS of $1.31 beat consensus estimates by $0.08, while adj-EPS of $1.28 rose 11.3%, with operating margin expanding to 4.1% from 2.5%. Best Buy Ads and Marketplace initiatives contributed to gross profit rate expansion, validating the strategic pivot toward higher-margin revenue streams beyond traditional retail. Management maintained FY 27 guidance with adj-EPS of $6.30-$6.60 and revenue of $41.2B-$42.1B, suggesting confidence despite CEO transition from Corie Barry to Jason Bonfig. Capex for 2027 is expected to be $750M. We think the strong cash position of $1.75B (+52.5% Y/Y) provides significant financial flexibility during the leadership transition. BBY plans $300M in share repurchases for FY 27, and we believe the diversification into ads and marketplace businesses positions it well for sustainable margin improvement despite ongoing appliances weakness.

$BBY
Stocks Fall Pre-Bell Amid Renewed US-Iran Tensions; Key Inflation, Economic Data on Deck
US Markets

Stocks Fall Pre-Bell Amid Renewed US-Iran Tensions; Key Inflation, Economic Data on Deck

The main US stock measures were trending lower in Thursday's premarket activity amid renewed tensions in the Middle East, while traders await key inflation and economic data.The S&P 500 and the Dow Jones Industrial Average edged down 0.1% each before the opening bell, while the Nasdaq was off 0.2%. The indexes finished Wednesday's trading session with fresh highs.Iran's Islamic Revolutionary Guard Corps said Thursday it targeted a US airbase, CNBC reported, citing Tehran's semi-official Tasnim news agency.The reported attack came after a US official told MS Now on Wednesday that US forces carried out strikes against a military site believed to threaten its troops and commercial shipping through the Strait of Hormuz.West Texas Intermediate crude oil increased 1.7% to $90.21 a barrel in premarket action, while Brent rose 1.6% to $95.81.President Donald Trump on Wednesday said that no single country will control the crucial Strait of Hormuz, according to Bloomberg News. "Nobody's going to control it, it's international waters," Trump reportedly said at the White House. "The strait's going to be open to everybody," and the US will "watch over it," he added.Earlier on Wednesday, Trump expressed confidence that the US would be able to reach a deal to end the conflict, but he is not yet satisfied with the terms, CNN reported. Iranian state TV previously claimed that a draft memorandum on ending the conflict calls for the US to withdraw its military forces and lift the naval blockade in return for reopening the Strait of Hormuz within a month. However, the White House dismissed it as a "complete fabrication," according to CNN.The personal income and outlays report for April is due to be released at 8:30 am ET. The report includes the personal consumption expenditure core price index, the Federal Reserve's preferred inflation metric.Treasury yields were moving higher before the open, with the two-year rate gaining 2.7 basis points to 4.06% and the 10-year rate adding 1.2 basis points to 4.49%.Thursday's economic calendar also has the second estimate report of the first-quarter gross domestic product at 8:30 am, along with the weekly jobless claims bulletin and the durable goods orders report for last month. The new home sales report for April is out at 10 am, followed by the EIA domestic petroleum inventories report at 12 pm.New York Fed President John Williams is slated to speak at 8:55 am, while St. Louis Fed President Alberto Musalem speaks at 10:15 am. Richmond Fed President Thomas Barkin's remarks are due at 3 pm.Shares of Snowflake (SNOW) jumped 38% pre-bell after the cloud-based data platform lifted its full-year product revenue outlook and agreed to a $6 billion infrastructure spending deal with Amazon's (AMZN) cloud platform. Salesforce (CRM) declined nearly 2% as the company issued a soft fiscal second-quarter outlook.Marvell Technology (MRVL) and Synopsys (SNPS) dropped 3.3% and 2.8%, respectively, following their latest quarterly results.Burlington Stores (BURL), Dollar Tree (DLTR), Li Auto (LI), XPeng (XPEV), Best Buy (BBY) and Hormel Foods (HRL) are expected to release their earnings before the bell, among others. Costco Wholesale (COST), Dell Technologies (DELL) and MongoDB (MDB) are scheduled to announce their results after the markets close.Gold fell 1.1% to $4,400 per troy ounce, while bitcoin slipped 2.2% to $73,258.

Dow JonesNasdaq CompositeS&P 500$BBY$BURL$COST$CRM$DELL$DLTR$HRL$LI$MDB$MRVL$SNOW$SNPS$XPEV
Wire

Best Buy's Q1 Results Poised to Show it Can Navigate Volatile Backdrop, UBS Says

Best Buy's (BBY) Q1 print is expected to show that the company has been able to navigate a volatile backdrop, with its recent leadership transition and rising memory costs becoming overhangs on the stock heading into the results, UBS said in a Friday note.The market is expecting the company to post flat to 1% comparable sales versus consensus forecast of 0.8%, when the company reports its Q1 results this week, UBS said.This print is expected to show that Best Buy's strategy to structurally improve its P&L is gaining traction as it builds momentum in its marketplace and advertising businesses, with the company's sales performance expected to include in newer and emerging categories such as AI glasses and collectibles, UBS said.Additionally, the company's chief executive transition will likely be of focus, UBS said, adding that any indication on how this appointment changes the company's strategy will be key input into the company's stock over the next 12 months.UBS maintained its buy rating with a $85 price target.Price: $62.58, Change: $+0.95, Percent Change: +1.54%

$BBY

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WheelAI
Analyze BBY options with the wheel strategy
StockInsider
StockInsider
See market sentiment on BBY