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Best Buy Shares Sink on Reduced Earnings Expectations

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  • Description

    FBN’s Nicole Petallides breaks down the stocks moving the markets.

  • Duration 1:50
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Paul is right now on the floor of the New York Stock Exchange first of all you've got -- -- -- -- that's -- is that does go what's our Urban Outfitters the retailer.

Hit a new high today 3765.

They've had strong sales.

They've worked on their inventory they also noted they've done a lot of full price selling prices selling at full price is good for that right better margins.

For -- they've also seen a lot of traffic the full price selling I can say for one I've gone and store.

A lot of shirt seems like a very regular sort of store and everything's fifty bucks a part of like fifty -- Ohio.

Aside from what I saw -- develop a -- yeah it was yeah I brilliant I've been in the stores.

Not that let's get to -- a company is in transition put it mildly it's Best -- I think is that in loves.

Yep that's right the problem with Best Buy here today is -- selling off and hitting a new low it's down over 6% NASA's recoup some of the losses that now they're -- they're having to cut their forecasts it.

They've been suspended -- what I.

They EnerNOC giving -- anymore because they can't seem to get together they're not making the sales they have a transitional new CEO now founder has been trying to the company -- at private won't be doing that.

So anything yet they're -- -- row because they didn't -- don't give a forecast.

Time is that isn't that the biggest electronics retailer in the world -- was certainly walls of one point I think it occupied that position.

We'll circuit city's gone right.

And aware of -- -- that's been a dog but we'll have to compete against the -- that Wal-Mart target Amazon and development.

Online shopping lawsuit in that the the store and buying online and looking at the prices in this I think that's what's voting for him.

That's -- -- the -- room.

Nicole thank you very much indeed the Dow is now off forty points bit of a rally in the last few minutes we're now thirteen 1300.

And the twelve.

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