Best Buy Misses (BBY)

Posted in pre-market 
September 15th, 2009

Best Buy Co. (NYSE: BBY) is trading lower, but not as bad as you would think, on an earnings miss.  The electronics retail giant posted Q2 earnings of $0.37 EPS, well under the $0.42 Thomson Reuters estimate. Revenue was up 12.5% to $11.02 billion Full-year guidance in line with consensus.  2010 earnings guidance was given in a range of $2.70 to $3.00, which is up from $2.50 and $2.70 previously offered and tyhe mid-point is close to consensus of $2.87 EPS.  At 8:28 AM EST we have a 2.6% drop to $39.35 on over 720,000 shares of stock.  This wuill be very active today. -JON OGG

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