Published January 16, 2014
Grim Holiday Sparks Best Buy Nosedive and Other #Stocks2Watch
#Stocks2Watch: Best Buy Plummets on Grim Holiday
Best Buy shares are plunging 30% after the struggling retailer posted grim holiday results.
Best Buy [BBY]
FOX Business assignment editor Jessica MacKenzie said she's watching shares of Best Buy, which are plunging 30% in pre-market trading. She writes:
Same store sales dropped almost 1% for December due in part to slower foot traffic during the holidays. Best Buy adds that it chose to keep prices competitive, which pushed costs higher.
Citigroup snapped the chain of big bank earnings beats. The No. 3 U.S. bank by assets posted weaker-than-expected results on the top and bottom lines. The shares are dropping 3% in pre-market trading.
BlackRock, the world's biggest money manager, unveiled quarterly profits and revenues that topped Wall Street's estimates. The shares are rallying more than 3% in pre-market trading.
UnitedHealth posted stronger-than-expected quarterly results and solid enrollment figures. However, shares of the biggest U.S. health insurer are still sliding 2% in the pre-market.
CSX shares are tumbling 6% in pre-market action after the railroad operator posted disappointing quarterly profits.