By: Steve Smith
Shares of Best Buy (BBY) surged some 10% to an intraday and new 52-week high of $83.60 after the electronics and home appliance retailer posted better-than-expected earnings and raised guidance.
The company now expects full-year EPS of $5.81 to $5.91 vs. prior estimates of $5.60 to $5.75 prior view and $5.76 consensus. Best Buy also sees full-year enterprise comparable sales growth of +1% to +2% vs. +0.70% to +1.70% prior view.
The stock is now up 58% for the year-to-date, more than doubling the broader market as… Continue reading at StockNews.com