Best Buy's stock is on track for its best day since 2017:
The electronics retailer reported better-than-expected results for the holiday period, but what stands out is how the company is treating its shareholders. Best Buy BBY, +16.15% announced Wednesday that it would be raising its quarterly dividend by 11%, to 50 cents per share, and the company also received approval for a new $3 billion buyback program. It plans to spend $750 million to $1 billion on share repurchases this fiscal year. Its stock is up more than 15% in morning trading.
delivered a disappointing forecast for the year ahead, but investors seem to be paying more attention to the company’s holiday-quarter earnings beat. The company’s downbeat outlook reflects the loss of Payless ShoeSource, which is closing its U.S. stores. Steve Madden will have to find ways to compensate for the absence of what Chief Executive Edward Rosenfeld called a “meaningful customer” in recent years. The stock is up 5.6%. •Shares of Dean Foods Co. DF, -15.
and L Brands Inc. LB, -0.51% are on the afternoon docket as well. Emily Bary Emily Bary is a MarketWatch reporter based in New York. We Want to Hear from You Join the conversation Comment var SA=SA || []; SA.push; var smscript=document.createElement; smscript.type='text/javascript'; smscript.async=true; smscript.src='https://smartasset.com/snippet.js'; var s=document.getElementsByTagName[0]; s.parentNode.insertBefore; Related Topics Earnings Markets U.S.
Indonesia Berita Terbaru, Indonesia Berita utama
Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.
Stocks making the biggest moves premarket: Lowe's, Best Buy, Weight Watchers, Office Depot & moreSome of the names on the move ahead of the open.
Baca lebih lajut »
Best Buy announces $3 billion buyback plan, shares spikeBest Buy, the Minnesota-based big-box retailer, reported quarterly earnings on Wednesday that topped analysts' estimates on the top and bottom lines.
Baca lebih lajut »
Best Buy holiday-quarter sales beat estimates; shares surgeBest Buy Co Inc reported better-than-expected holiday quarter profit and sales o...
Baca lebih lajut »
Best Buy shares soar 11% on earnings beatBest Buy shares surged on Wednesday after the company reported earnings and sales for the holiday quarter that topped analysts' expectations.
Baca lebih lajut »
Best Buy shares soar 10% premarket after blowout earnings
Baca lebih lajut »
'Beale Street' tops Spirit Awards, Glenn Close wins best actressTwo years after his 'Moonlight' triumphed on the eve of the Oscars, Barry Jenkins' adaptation of the novel 'If Beale Street Could Talk' topped the 34th Film Independent Spirit Awards.
Baca lebih lajut »
'Beale Street' tops Spirit Awards, Close wins best actressBarry Jenkins' adaptation of the James Baldwin novel 'If Beale Street Could Talk' tops the 34th Film Independent Spirit Awards, winning best film, best director and best supporting female for Regina King.
Baca lebih lajut »
Netflix's moment in the best picture spotlight thwarted by a safe betNetflix's moment in the best picture spotlight will have to wait another year. 'Roma' won in the best director and best foreign language film categories, but 'Green Book' took home the top prize.
Baca lebih lajut »
Oscars 2019 live updates: ‘Green Book’ wins best picture; Colman beats out Close for best actress; Malek wins best actor; Gaga and Cooper’s intimate ‘Shallow’ performance‘Green Book’ wins best picture at the Oscars despite backlash over its portrayal of racial conflict
Baca lebih lajut »