BBY

Best Buy Co., Inc.

68.85
USD
-4.56%
68.85
USD
-4.56%
67.66 141.97
52 weeks
52 weeks

Mkt Cap 16.94B

Shares Out 245.96M

Chat
Send me real-time posts from this site at my email

A Slew of Big Retailers to Report Q1 Results This Week

For the second day in a row, we take a breather from economic data releases pertaining to the general economy. It’s been a busy month in this regard so far, and judging by market moves in response to them, we’ll welcome the relative calm today. The Dow is +300 points at this hour, the S&P is +35 and the Nasdaq is +60 points. It’s not exactly an unprecedented losing streak — we’ve had 8 straight down weeks on the Dow and 7 on the S&P and Nasdaq a few times… over the past hundred years or so. But as long as today’s active traders have been around, it feels like a pretty unprecedented place to be. We’re also not completely done with Q1 earnings season — plenty of big-name retailers are expected to report this week, including Macy’s M, Best Buy BBY and others, from Williams-Sonoma WSM to Dollar General DG. Also, important companies outside the retail space are due out, like NVIDIA NVDA, Toll Brothers TOL and Alibaba BABA. We also see a few reasons for optimism going into a new week, and not all due to attractive valuations based on oversold stocks. We see lower Covid cases being in reported in China, which may bolster supply chain activity that has been an albatross around the global economy for longer than most experts had anticipated. With President Biden in Far East Asia this weekend, we also see some news reports regarding tariff relief between the U.S. and China, which may further alleviate trade conditions. Finally, semiconductor giant Broadcom AVGO is reportedly in talks to buy cloud-computing software firm VMWare VMW for a thus-far-undisclosed amount (though a little “back of the envelope” would bring its valuation plus premium to between $45-50 billion. Shares of VMWare are up +19% in today’s pre-market on the news — the virtualization tech company is still -19% year to date. VMWare also is scheduled to report fiscal Q1 earnings on Thursday of this week. 5 Stocks Set to Double Each was handpicked by a Zacks expert as the #1 favorite stock to gain +100% or more in 2021. Previous recommendations have soared +143.0%, +175.9%, +498.3% and +673.0%. Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor. Today, See These 5 Potential Home Runs >> Click to get this free report VMware, Inc. (VMW): Free Stock Analysis Report Macy's, Inc. (M): Free Stock Analysis Report Dollar General Corporation (DG): Free Stock Analysis Report Best Buy Co., Inc. (BBY): Free Stock Analysis Report NVIDIA Corporation (NVDA): Free Stock Analysis Report Toll Brothers Inc. (TOL): Free Stock Analysis Report Broadcom Inc. (AVGO): Free Stock Analysis Report WilliamsSonoma, Inc. (WSM): Free Stock Analysis Report Alibaba Group Holding Limited (BABA): Free Stock Analysis Report To read this article on Zacks.com click here. The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Welcome! Is it your First time here?

What are you looking for? Select your points of interest to improve your first-time experience:

Apply & Continue