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Best Buy (NYSE:BBY) Plunges On Quarter Loss, Restructuring Charges – BBY, GME, RSH, CONN, HGG

Electronics retailer Best Buy Co., Inc. (NYSE:BBY) announced on Tuesday that it swing to a fiscal Q3 loss of $10M, or 3 cents per share, from a profit of $156M, or 43 cents, a year prior. Excluding restructuring charges, the firm declared it earned 3 cents per share.

Revenue in the quarter ended Nov. 3 plunged to $10.75B from $11.1B. Experts surveyed by Thomson Reuters were expecting for a profit of 12 cents per share on revenue of $10.73 billion. Similar store sales dropped 4.3 percent. Best Buy shares plunged 3.6 percent in premarket trading.

Moving readers toward the broader market, let’s consider percentage change in stocks prices of other stocks in the similar sector who contribute major role in the market that includes GameStop Corp. (NYSE:GME) advanced 2.12%, RadioShack Corporation (NYSE:RSH) slid -3.50%, CONN’S, Inc. (NASDAQ:CONN) which increased 0.11% and hhgregg, Inc. (NYSE:HGG) closed down-0.97%.

Best Buy Co., Inc. (NYSE:BBY) stock’s trade at beginning with a price of $12.82 and throughout the trading session climbed at a high of $12.86 other than when day-trade ended the stock finally declined -13.02% to $11.96.

The stock is going forward its 52 week low with -11.54% and lagging behind from its 52 week high price with -56.72%. BBY last month stock price volatility remained 4.41%.

BBY stock institutional ownership remained 72.25% while insider ownership included 1.14%. In its share capital BBY has 336.67 million outstanding shares among them 268.92 million shares have been floated in market exchange.

Company’s beta coefficient included 1.33. Beta factors measures the amount of market risk associated with market trade.

Published by Van Bettauer

Van Bettauer is a financial aficionado from Vancouver, British Columbia. He currently studies at UBC, pursuing a Bachelors of Science degree. Van has been freelance writing for many years, specializing in copywriting, report writing and article writing. The combination of his scientific studies and writing experience brings a new and fresh perspective to the financial world. Visit Bettauer's Google+ page at the following address: https://plus.google.com/100770875710593766367/posts

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