Best Buy Helps the Market

March 26, 2009 at 4:29 pm Leave a comment

Today, electronics retailer Best Buy reported a drop in its profits, but at the same time provided guidance that exceeded Wall Streets estimates.  As a result, its stock rose substantially and contributed to the advance in the overall market.  The fact that Best Buy sells consumer discretionary goods and its better outlook indicates that consumer spending decline is at least moderating.

Entry filed under: Stock Ideas.

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Leon Shirman's long-term investment philosophy is summarized in his book, “42 Rules for Sensible Investing”, also available from Amazon.


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