{"id":12768,"date":"2011-03-24T08:38:29","date_gmt":"2011-03-24T12:38:29","guid":{"rendered":"http:\/\/www.thedisciplinedinvestor.com\/blog\/?p=12768"},"modified":"2016-09-20T08:30:58","modified_gmt":"2016-09-20T12:30:58","slug":"best-buy-bby-show-us-that-markets-are-numb","status":"publish","type":"post","link":"https:\/\/thedisciplinedinvestor.com\/blog\/2011\/03\/24\/best-buy-bby-show-us-that-markets-are-numb\/","title":{"rendered":"Best Buy (BBY) Shows Us That Markets Are Numb"},"content":{"rendered":"<p><strong>Best Buy <\/strong>(BBY) is showing us that markets can really remain irrational much longer than anyone (including governments) can stay solvent.In a world<\/p>\n<p>Trading up 4% in the pr-market, investors appear not to notice the statement by management that the outlook for the next quarter was guided down by 10% on the low end. They also appear to have missed the fact that sales are slowing. But, it is possible that investor <!--more-->have punished the stock just a bit too much over the last few months and this this is just a refresh of assumption that were much too bearish.<\/p>\n<p>It would not be unexpected for many savvy investors to fade this near the 50-day. But then again&#8230;. (update &#8211; now shares are up only 1.5% , falling by 2.5% since the time this writing started about 10 minutes ago)<\/p>\n<p><a href=\"http:\/\/www.thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2011\/03\/bby.jpg\"><\/a><a href=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2011\/03\/bby1-1.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-12777 aligncenter\" title=\"bby\" src=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2011\/03\/bby1-1.jpg\" alt=\"\" width=\"591\" height=\"368\" \/><\/a><\/p>\n<p>From Marketwatch:<\/p>\n<blockquote><p>NEW YORK (MarketWatch) &#8212; No. 1 U.S. electronics chain Best Buy Co. said Thursday that its fiscal fourth-quarter profit fell to $651 million, or $1.62 a share, from $779 million, or $1.82, a year earlier. Sales in the quarter ended Feb. 26 dropped to $16.3 billion from $16.6 billion. Comparable-store sales fell 4.6%. Excluding items, the company said it earned $1.98 a share. Analysts surveyed by FactSet estimated the Minneapolis-based retailer to earn $1.84 a share on sales of $16.3 billion. The company forecast adjusted profit of $3.30 to $3.55 a share for the year on sales of $51 billion to $52 billion. Comparable store sales are expected to be flat to down 3%. Analysts were looking for profit of $3.56 a share on sales of $52.1 billion, according to the FactSet poll<\/p><\/blockquote>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Best Buy (BBY) is showing us that markets can really remain irrational much longer than anyone (including governments) can stay solvent.In a world Trading up 4% in the pr-market, investors appear not to notice the statement by management that the outlook for the next quarter was guided down by 10% on the low end. They [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5,12,42],"tags":[483,490],"class_list":["post-12768","post","type-post","status-publish","format-standard","hentry","category-economy","category-markets","category-stocks","tag-markets","tag-stocks","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"acf":[],"_links":{"self":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/12768","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/comments?post=12768"}],"version-history":[{"count":0,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/12768\/revisions"}],"wp:attachment":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/media?parent=12768"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/categories?post=12768"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/tags?post=12768"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}