BBY - US Stocks Mostly Flat; Best Buy Posts Upbeat Results | Benzinga
U.S. stocks traded mostly flat this morning, with the Dow Jones falling around 10 points on Tuesday.
Following the market opening Tuesday, the Dow traded down 0.01% to 34,555.23 while the NASDAQ rose 0.05% to 13,711.98. The S&P 500, also rose, gaining, 0.08% to 4,437.04.
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Leading and Lagging Sectors
Communication services shares jumped by 0.8% on Tuesday.
In trading on Tuesday, energy shares fell by 0.5%.
Top Headline
Best Buy Co Inc (NYSE: BBY) posted better-than-expected results for the second quarter.
Best Buy reported second-quarter sales of $9.58 billion, beating the analyst consensus estimate of $9.52 billion. Adjusted EPS of $1.22 beat the analyst consensus of $1.06.
For FY24, the company revised guidance for revenue to $43.80 billion-$44.50 billion from $43.8 billion - $45.2 billion against the Street view of $44.3 billion. It now expects a comparable sales decline of 4.5% to 6.0% (vs. 3.0% to 6.0% earlier).
Equities Trading UP
Axcella Health Inc. (NASDAQ: AXLA) shares shot up 214% to $0.3543 after the company announced it was granted a patent for long COVID fatigue treatment.
Shares of ...