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Street Tips: Progressive Following on Best Buy Co. Inc.
(M2 PressWIRE Via Thomson Dialog NewsEdge)
RDATE:02042008
Streetinvesting.com has now resumed our progressive review of Best Buy
Co. Inc. (NYSE:BBY) as it leapt out of the gates up $2.16 on below
average volume early trading Wednesday, April 2, 2008. Based on the
Company's most recent news release; we will be progressively reviewing
the impact of the markets and the effects of their developments. We
will be providing updates and analyst opinions as new stories unfold.
Make sure to visit www.streetinvesting.com to keep updated and signup
for free with no credit card for market reports and analytical plays.
Our research resources have been aimed towards the US Large Caps and
the various prospective companies therein Best Buy Co. Inc. was among
those that we have been closely examining due to their recent news and
trading patterns. Sign up at www, streetinvesting.com for more
information on the company mentioned herein.
April 2, 2008, Best Buy Co., Inc. reported net earnings of $737
million, or $1.71 per diluted share, for its fiscal fourth quarter
ended on March 1, 2008. The leading consumer electronics retailer's
diluted earnings per share increased 10 percent, compared with $1.55
per diluted share, or $763 million, for the prior year's fiscal fourth
quarter, which had one extra week. The company estimates that its
year-over-year diluted EPS growth was 14 percent after adjusting for
the extra week in the prior year's period. The EPS growth was largely
driven by the year-over-year reduction in the average number of shares
outstanding plus a modest gain in operating income.
Best Buy Co., Inc. operates a global portfolio of brands with a
commitment to growth and innovation. Our employees strive to provide
customers around the world with superior experiences by responding to
their unique needs and aspirations. We sell consumer electronics,
home-office products, entertainment software, appliances and related
services through approximately 1,300 retail stores across the United
States, throughout Canada and in China. Our multi-channel operations
include: Best Buy (BestBuy.com, BestBuy.ca and BestBuy.com.cn), Future
Shop (FutureShop.ca), Geek Squad (GeekSquad.com and GeekSquad.ca),
Pacific Sales Kitchen and Bath Centers (PacificSales.com), Magnolia
Audio Video (Magnoliaav.com), Jiangsu Five Star Appliance Co.
(Five-Star.cn) and Speakeasy (Speakeasy.net). Best Buy supports the
communities in which its employees work and live through volunteerism
and grants that benefit children and education.
Streetinvesting.com will continue to follow the progress of this
company following their most recent news announcement. Visit
www.streetinvesting.com and signup free for our financial market
services.
At Streetinvesting.com, we bring our knowledge of the marketplace and
investment opportunities directly to our subscribers. As an
aggressive-growth research company, our strength and goal is bringing
distinctive trading opportunities and investment philosophies to
investors seeking a different and unique approach to investment ideas.
That's our goal. That's what we do. We are "The Word on the Street".
Let us become your number one portal for research and information on
the global markets.
To continue with the more in-depth analysis, please visit
www.streetinvesting.com for a complimentary subscription to access this
report and other related articles. Please note that membership does not
require credit card information.
All material herein was prepared by Streetinvesting.com, (Street
Investing) based upon information believed to be reliable. The
information contained herein is not guaranteed by Streetinvesting.com
to be accurate, and should not be considered to be all-inclusive. The
companies that are discussed in this opinion have not approved the
statements made in this opinion. This opinion contains forward-looking
statements that involve risks and uncertainties. This material is for
informational purposes only and should not be construed as an offer or
solicitation of an offer to buy or sell securities. Streetinvesting.com
is not a licensed broker, broker dealer, market maker, investment
banker, investment advisor, analyst or underwriter. Please consult a
broker before purchasing or selling any securities viewed on or
mentioned herein. Streetinvesting.com may receive compensation in cash
or shares from independent third parties or from the companies
mentioned.
Streetinvesting.com's affiliates, officers, directors and employees may
also have bought or may buy the shares discussed in this opinion and
may profit in the event those shares rise in value.
Streetinvesting.com will not advise as to when it decides to sell and
does not and will not offer any opinion as to when others should sell;
each investor must make that decision based on his or her judgment of
the market.
This release contains "forward-looking statements" within the meaning
of Section 27A of the Securities Act of 1933, as amended, and Section
21E the Securities Exchange Act of 1934, as amended and such
forward-looking statements are made pursuant to the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995.
"Forward-looking statements" describe future expectations, plans,
results, or strategies and are generally preceded by words such as
"may", "future", "plan" or "planned", "will" or "should", "expected,"
"anticipates", "draft", "eventually" or "projected". You are cautioned
that such statements are subject to a multitude of risks and
uncertainties that could cause future circumstances, events, or results
to differ materially from those projected in the forward-looking
statements, including the risks that actual results may differ
materially from those projected in the forward-looking statements as a
result of various factors, and other risks identified in a companies'
annual report on Form 10-K or 10-KSB and other filings made by such
company with the Securities and Exchange Commission.
You should consider these factors in evaluating the forward-looking
statements included herein, and not place undue reliance on such
statements. The forward-looking statements in this release are made as
of the date hereof and Streetinvesting.com undertakes no obligation to
update such statements.
CONTACT: Streetinvesting.com
WWW: http://www.streetinvesting.com
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Copyright ? 2008 M2 Communications Ltd.
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