Best Buy (BBY), an electronics chain whose competitors include Target (TGT) and Wal-Mart (WMT), saw a bid yesterday after it released results for the fiscal fourth quarter. Indeed, the numbers displayed a lot of improvement, making the buying interest, as well as the incredible conviction indicated by the quantity of shares traded, more than understandable.

Net sales increased 12%, and earnings per diluted share, on an adjusted basis, rose 13% to $1.82. The estimate at Earnings.com was for $1.79 per diluted share. Same-store sales jumped 7%; in the comparable year-ago period, they had dropped nearly 5%.

Continue reading Best Buy Shows Big Improvement in Q4

Best Buy Shows Big Improvement in Q4 originally appeared on BloggingStocks on Fri, 26 Mar 2010 09:30:00 EST. Please see our terms for use of feeds.

Best Buy (NYSE: BBY) may be the world's largest electronics retailer, but it realizes that it faces a huge threat to a hefty chunk of its business. Apple (NASDAQ: AAPL) is moving plenty of movies and other soon-to-be former DVD fare through iTunes, staking a claim on a business that once belonged to Best Buy. The big box store is getting ready to fight back (finally?).

Using technology it's licensing from Sonic Solutions (NASDAQ: SNIC), Best Buy is opening an online store for movies and television shows. Best Buy CEO Brian Dunn says this move will expand the company's presence in services and will bolster company loyalty. That's the press release version, of course. The reality is that Best Buy needed to do something to protect this portion of its revenue and probably should have made the move several years ago.

Continue reading Best Buy follows Amazon into the clouds

Best Buy follows Amazon into the clouds originally appeared on BloggingStocks on Wed, 04 Nov 2009 08:40:00 EST. Please see our terms for use of feeds.

Continue reading Philips knows its light tech investments will pay off

Philips knows its light tech investments will pay off originally appeared on BloggingStocks on Thu, 24 Sep 2009 17:30:00 EST. Please see our terms for use of feeds.

Now that Best Buy, Inc. (NYSE: BBY) is the last surviving member of the national specialty consumer electronics retail club, where can it go? Up and up. Sure, mass chains like Wal-Mart Stores, Inc. (NYSE: WMT) and others have stepped up to the plate and are greatly enhancing their consumer electronics sections, but then again Best Buy has a new CEO who is thinking differently and isn't going to give an inch if he can help it.

Continue reading Is Best Buy lonely at the top? Doubtful

Is Best Buy lonely at the top? Doubtful originally appeared on BloggingStocks on Wed, 22 Jul 2009 09:30:00 EST. Please see our terms for use of feeds.

Online retailer Amazon.com, Inc. (NASDAQ: AMZN) is looking to extend the reach of its Kindle -- a wireless reading device -- into the hands of consumers, and hopes that cutting the price will speed adoption in a price-sensitive world. Formerly priced at $359, the Kindle will now be sold for $299, though the more advanced Kindle DX will still maintain its $489 price tag.

Amazon, known mainly for selling books online before branching out into other areas, has made the Kindle a focal point of creating new growth for the site. The company has been offering generous 10% payouts via its affiliate program for creating sales, compared to the typical 4% paid on other items. A June 30 research report from Cowen & Co. obtained by DailyFinance estimated that 800,000 Kindle units had been sold so far; the company estimates that more than 2.6 million will be sold by the end of 2010.

Continue reading Amazon cuts Kindle price to speed adoption

Amazon cuts Kindle price to speed adoption originally appeared on BloggingStocks on Wed, 08 Jul 2009 17:30:00 EST. Please see our terms for use of feeds.

Continue reading Best Buy (BBY) gets no love from Pali Capital analyst

Best Buy (BBY) gets no love from Pali Capital analyst originally appeared on BloggingStocks on Fri, 17 Apr 2009 15:20:00 EST. Please see our terms for use of feeds.

"Though I've long believed Garmin (NASDAQ: GRMN) was easily the best managed firm in the GPS space, it continues to feel the sting from competitive forces," says Paul McWilliams.

Here, the technology stock specialist and editor of Next Inning reviews the company and the prospects for its new entry in the cell phone market -- the nuvifone.

"As you would expect, the nuvifone is very GPS-centric with all sorts of Geo-tagging features for email, SMS and pictures. It also includes an Opera browser and is fully capable of viewing Word, Excel and PowerPoint documents and working with both personal and enterprise email systems.

"While I've not seen one in person yet, what I've heard from those who have and from what I've seen on the GRMN web site, I think the product has potential.

"The key, however, will be how the nuvifone is marketed and how well GRMN does in building an applications store, a factor that I think will be a huge differentiation driver as we move forward in the Smartphone sector.

Continue reading Garmin (GRMN): The wild card is nuvifone

Garmin (GRMN): The wild card is nuvifone originally appeared on BloggingStocks on Tue, 24 Feb 2009 12:10:00 EST. Please see our terms for use of feeds.

Garmin (NASDAQ: GRMN), which makes GPS-enabled consumer devices, is a new buy recommendation from value investor Charles Mizrahi. Here's his long-term outlook from his Hidden Values Alert.

"Garmin a leading worldwide provider of navigation, communications and information devices, most of which are enabled by Global Positioning System (GPS) technology.

"It designs, develops, manufactures and markets a diverse family of hand-held, portable and fixed-mount GPS-enabled products and other navigation, communications and information products for the automotive/mobile, outdoor/fitness, marine and general aviation markets.

Continue reading Navigating gains with Garmin (GRMN)

Navigating gains with Garmin (GRMN) originally appeared on BloggingStocks on Fri, 13 Feb 2009 13:00:00 EST. Please see our terms for use of feeds.

"Aaron Rents (NASDAQ: RNT) is a new addition to the focus list that carries both fundamental and technical strength," says Michael Vodicka, an analyst with Zacks Elite Investment Research.

"The company is a specialty retailer of consumer electronic goods like stereos and televisions that owns or operates 1,545 stores in the United States and Canada. Aaron Rents was founded in 1955 and has a market cap of $1.38 billion.

"In spite of a short-lived drop in mid October, this stock has held up well in an environment where consumers are pulling back on discretionary spending. The big share-price rebound was predicated on the company's solid third-quarter results, reported in late October.

Continue reading Aaron Rents (RNT): Zacks sees resilient returns

Aaron Rents (RNT): Zacks sees resilient returns originally appeared on BloggingStocks on Tue, 10 Feb 2009 14:30:00 EST. Please see our terms for use of feeds.

"While I've watched video game maker Electronic Arts (NASDAQ: ERTS) for many years, I've never felt it was cheap," says growth stock specialist Nate Pile.

In his Nate's Notes, he now says, "I am thrilled to see the stock price finally experience the sort of pullback that justifies a buy rating; indeed, I wasn't interested at $50 four months ago, but at $17 today, I can't help but get excited."

"Over the years, Electronic Arts has amassed an impressive library of titles. In particular, you may be familiar with the entire Sims collection, as well as the company's extensive lineup of sports games (including Madden NFL and Tiger Woods PGA Tour, for example).

"In addition, Spore is a recently introduced hit, and some other titles you may be familiar with (or at least seen in TV commercials) include Need For Speed, Medal of Honor, and Rock Band.

Continue reading Electronic Arts (EA): A value in video gaming?

Electronic Arts (EA): A value in video gaming? originally appeared on BloggingStocks on Wed, 28 Jan 2009 13:15:00 EST. Please see our terms for use of feeds.

Continue reading With new CEO Best Buy's future looks bright

With new CEO Best Buy's future looks bright originally appeared on BloggingStocks on Wed, 28 Jan 2009 11:45:00 EST. Please see our terms for use of feeds.

Best Buy plans to double sales by 2013 originally appeared on BloggingStocks on Thu, 26 Jun 2008 12:31:00 EST. Please see our terms for use of feeds.

Best Buy leads in consumer electronics shopper preferences originally appeared on BloggingStocks on Fri, 14 Mar 2008 13:04:00 EST. Please see our terms for use of feeds.

"Our December revenue results were in line with our expectations. Soft domestic customer traffic in January, coupled with our near-term outlook, now indicate that our fourth-quarter revenue will fall short of our planned targets," Brad Anderson, vice chairman and chief executive officer of Best Buy, said in a press release.

Will Best Buy's problems lead to better deals for consumers? originally appeared on BloggingStocks on Fri, 15 Feb 2008 10:25:00 EST. Please see our terms for use of feeds.

Phillip Schoonover's performance as Circuit City Stores Inc (NYSE: CC) CEO has not been terrific. Last March he canned 3,400 of the highest paid people in the company -- many of which were top sales people who took their customers to Best Buy (NYSE: BBY). Circuit City's financial performance has faltered and its stock has lost 80% of its value in the last year.

As I posted here, I can't understand why Schoonover continues to occupy his position as CEO. A Circuit City spokesman denies a rumor I received this morning from an anonymous tip via e-mail suggesting that Circuit City's stockholders hounded the board into agreeing -- Schoonover will be out by the end of this month, the tipster alleges. Two e-mails from different addresses, which apparently were fake, contained the rumor. The senders didn't identify themselves. I called the company and the two executives mentioned in the e-mail for comment.

Here's one of the e-mails:

Continue reading Is Circuit City's Phillip Schoonover on his way out? Unsubstantiated rumors reach my inbox

Is Circuit City's Phillip Schoonover on his way out? Unsubstantiated rumors reach my inbox originally appeared on BloggingStocks on Thu, 10 Jan 2008 13:35:00 EST. Please see our terms for use of feeds.

MoneyCNN reports that Circuit City Stores (NYSE: CC) lost 64 cents a share and a sales dropped 3.1%. Circuit City CEO Philip Schoonover said: "We underestimated the financial impact from the disruption of our transformation work."

Schoonover is clueless about his "transformation work." As I posted earlier this year, last March Circuit City laid off 3,400 workers experienced and higher paid workers and replaced them with lower paid ones. Customers who liked the knowledgeable sales staff followed them to Best Buy (NYSE: BBY) which reported that its third quarter profits and sales beat estimates.

Schoonover thought that he could lower his costs and keep sales strong. Now it's time for Circuit City's board to complete its "transformation work" by canning Schoonover.

Update: Circuit City stock is down 22% this morning and 73% since March when it announced its 3,400 person lay off.

Peter Cohan is President of Peter S. Cohan & Associates, a management consulting and venture capital firm. He also teaches management at Babson College and edits The Cohan Letter. He has no financial interest in Best Buy or Circuit City securities.

Circuit City sales fall 3.1%, CEO clueless originally appeared on BloggingStocks on Fri, 21 Dec 2007 09:30:00 EST. Please see our terms for use of feeds.

Forget Fake Steve Jobs. The fake iPhone is here. According to Bloomberg, there is the beginning of a booming market for counterfeit Apple (NASDAQ: AAPL) iPhones in Taiwan and China. "With a touch-screen and Apple Inc.'s logo on the back, the iClones look just like the real thing," the story says.

Apple will probably not offer the iPhone in Asia until next year.

The news points out the Chinese dexterity in stealing consumers electronics designs and it is a significant threat to Apple. China has the world's largest cellphone market and China Mobile (NYSE: CHL) is the world's largest cellphone company. And, the phones are being sold into markets including Australia and the U.S.

The fake phones have two advantages. First, they are less expensive than iPhones. Second, they can work on networks outside AT&T (NYSE: T), which currently has the U.S. exclusive for the hot handset.

Steve Jobs may want to take a look over at Microsoft (NASDAQ: MSFT), which claims that about 85% of the copies of Windows sold in China are counterfeit. That represents hundreds of millions of dollars in lost revenue, perhaps more.

Now, it's Apple's turn to fight the pirates.

Douglas A. McIntyre is a partner at 24/7 Wall St.

Fake Apple (AAPL) iPhones begin to emerge originally appeared on BloggingStocks on Tue, 11 Sep 2007 10:00:00 EST. Please see our terms for use of feeds.

One of the largest increases in short interest among NYSE traded stocks was seen in Best Buy (NYSE: BBY). Shares short rose by 22.3 million from July 13 to August 15, hitting 68.7 million. As of three days ago, shares in the retailer were down 8% for the month.

Investors are increasingly concerned about Best Buy's competition; Wal-Mart's (NYSE: WMT) consumer electronics business continues to grow, as does the success of Amazon.com (NASDAQ: AMZN) in the same business. Forbes recently wrote that Best Buy first-quarter results "missed the Street's forecasts as profits were dampened by competition that undercut margins." The demise of Circuit City (NYSE: CC) also worries Wall Street. Radio Shack's (NYSE: RSH) sales numbers were also awful in the last quarter.

Best Buy reaffirmed its annual sales and earnings targets during an analyst meeting last month, but there must be a large number of skeptics. Best Buy trades at only $44, near its 52-week low and well down from the high of $58.49.

It would appear that no one is inclined to believe Best Buy management right now and the shorts are taking advantage of that.

Douglas A. McIntyre is a partner at 24/7 Wall St.

Best Buy (BBY): The shorts make out originally appeared on BloggingStocks on Wed, 22 Aug 2007 10:00:00 EST. Please see our terms for use of feeds.

Best Buy not immune to slowdown originally appeared on BloggingStocks on Tue, 19 Jun 2007 13:00:00 EST. Please see our terms for use of feeds.

Taser International Inc. (NASDAQ:TASR) today reported strong fourth quarter results, squeezing the short-sellers that have made the stun-gun maker one of their favorite targets.

Net income was $2.3 million, or 4 cents per share, compared with $179,126, or break even, a year earlier, the company said. Revenue soared 53 percent to $19.3 million. Analysts were expecting profit of 4 cents on revenue of $19.2 million, according to Thomson Financial My colleague Melly Alazraki gives a good overview of the history of this company's history here.

Taser has long been a favorite of short-sellers who hold about 11 million shares out of a float of 56.4 milllon, according to Bloomberg News. Shares of the Scottsdale, Ariz.-based company, which are down about 17 percent over the past year, were up about 4 percent in trading today.

The company continues to attract law enforcement customers and is moving into the consumer market and introduced the C2 "personal protector" at last month's consumer electronics show in Las Vegas which comes in vibrant colors including pink. It begins shipping in the second quarter.

Also check out some other earnings reports that we're following, and let us know what you're expecting.

Taser zaps short-sellers originally appeared on BloggingStocks on Wed, 21 Feb 2007 16:50:00 EST. Please see our terms for use of feeds.