Skip to main content

After sneaking up to $51.70 (U.S.) in the pre-market on Tuesday, Best Buy shares are trading down 1.25 per cent at $50.50 after the first 45 minutes of trading as the Street takes a closer look at the retailer's outlook. Best Buy nudged its fiscal 2007 guidance by 5 cents-to-10 cents a share, which implies a fourth-quarter view of $1.72, below consensus of $1.82. But Deutsche Bank figures the new forecast, coupled with the third-quarter numbers, puts second-half profit at $2.16-to-$2.26 a share, compared with consensus of $2.23, which is still in line.  "Best Buy likely wants to provide a conservative, beatable outlook," it adds.

Report an error

The Globe invites you to share your views. Please stay on topic and be respectful to everyone. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

We’ve made some technical updates to our commenting software. If you are experiencing any issues posting comments, simply log out and log back in.

Discussion loading… ✨