Best Buy (BBY) is an American multinational consumer electronics corporation headquartered in Richfield, Minnesota, a Minneapolis suburb. It operates in the United States, Mexico, and Canada. All Best Buy Stores in China were closed in February 2011 and merged with Five Star. The company was founded by Richard M. Schulze and Gary Smoliak in 1966 as an audio specialty store. In 1983, it was renamed and rebranded with more emphasis placed on consumer electronics. Best Buy's subsidiaries include Geek Squad, Magnolia Audio Video, Pacific Sales, and Cowboom. Best Buy operates under the Best Buy, Best Buy Mobile, Geek Squad, Magnolia Audio Video, Insignia and Pacific Sales brands in the United States; the Best Buy, Geek Squad, Best Buy Mobile, and Future Shop brands in Canada; Best Buy Mobile and Five Star in China; and Best Buy, Best Buy Express, and Geek Squad in Mexico.[1] Best Buy sells cellular phones with phones from Verizon Wireless, AT&T Mobility, Sprint Corporation, Boost Mobile and T-Mobile US, in regular stores and standalone Best Buy Mobile stores in shopping malls. Best Buy was named "Company of the Year" by Forbes magazine in 2004, "Specialty Retailer of the Decade" by Discount Store News in 2001, ranked in the Top 10 of "America's Most Generous Corporations" by Forbes in 2005 (based on 2004 giving), and made Fortune magazine's List of Most Admired Companies in 2006. Hubert Joly serves as Best Buy chairman and CEO.
Amazon and Best Buy partner to sell Fire TVs Source: https://www.marketwatch.com/story/a...18?link=MW_widget_latestnews_stockaholics.net Rivals Amazon.com Inc. and Best Buy Co. are joining forces to sell television sets powered by Amazon’s Fire TV operating system. Amazon AMZN, +1.10% CEO Jeff Bezos and Best Buy BBY, +4.04% CEO Hubert Joly revealed the partnership on Tuesday at a Best Buy store in Bellevue, Wash. The companies will sell 11 models, starting this summer with TVs by Toshiba and Best Buy house brand Insignia. Best Buy will feature the Amazon-powered TVs in its stores and on its website, and also become a merchant on Amazon’s website, where it will sell these TV sets exclusively.
If this drop continues, it will be important to hold the $66 level/200MA support. Room to fall to the low 50's if it doesn't hold IMO.
Best Buy announces that it acquired GreatCall for $800M in cash. GreatCall is a provider of connected health and personal emergency response services to the aging population, with more than 900K paying subscribers. The company says the GreatCall acquisition is a manifestation of the Best Buy 2020 strategy to enrich lives through technology by addressing key human needs. The deal is also seen adding to Best Buy's growing business selling health- and wellness-related products. The transaction is expected to close by the end of FQ3. The company expects the impact of the acquisition on EPS to be neutral in FY19 and FY20 and accretive by FY21. Wow, I never knew. But maybe this is why they're stopping the Gamers Club Unlocked -- young kids would scare away the old fogies inside the store Interesting to see them being modest about the EPS effects too.
