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MarketWatch MarketPulseMay 23, 2019
Best Buy shares rise after earnings beat consensus
Best Buy Co Inc. shares rose 2.4% in Thursday premarket trading after the consumer electronics retailer reported first-quarter earnings that beat expectations. Net income was $265 million, or 98 cents per share, up from $208 million, or 72 cents per share, last year. Adjusted EPS was $1.02. Revenue totaled $9.14 billion, up from $9.12 billion in 2018. The FactSet consensus was for EPS of 87 cents and sales of $9.14 billion. Same-store sales rose 1.1%, ahead of the 1.0% FactSet estimate. For the second quarter, Best Buy is guiding for revenue of $9.5 billion to $9.6 billion, same-store sales growth of 1.5% to 2.5%, and adjusted EPS of 95 cents to $1. The FactSet consensus is for $9.5 billion, a same-store sales increase of 1.6% and EPS of 97 cents. For the year, Best Buy expects sales of $42.9 billion to $43.9 billion, same-store sales growth of 0.5% to 2.5%, and adjusted EPS of $5.45 to $5.65. FactSet forecasts sales of $43.56 billion, same-store sales growth of 1.9% and EPS of $5.64. Best Buy stock has climbed 30.6% in 2019, outpacing the S&P 500 index , which is up 14% for the period.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.



Reuters BusinessMay 23, 2019
U.S. $16 billion farm aid program to help expand markets: USDA's Perdue
U.S. President Donald Trump's $16 billion aid program will help American farmers hurt by the ongoing U.S.-China trade war, including efforts to open the door to their products outside of China, the U.S. agriculture secretary said on Thursday.

CNBC EconomyMay 23, 2019
Trump administration to give a $16 billion bailout to farmers hurt by trade war, USDA chief says
President Trump is expected to announce the farm aid plan later Thursday at the White House.

RELATED ARTICLES
U.S. aid program to use $16 billion to boost farmers, expand markets: USDA's Perdue (Reuters Business)

CNBC BusinessMay 23, 2019
Sprint shares jump as DOJ antitrust chief Makan Delrahim remains open to potential T-Mobile deal
Makan Delrahim still has not made up his mind and appears to remain open to the potential $26.5 billion merger of T-Mobile and Sprint.

MarketWatch MarketPulseMay 23, 2019
BJ's Wholesale profit and same-store sales rise above expectations
BJ's Wholesale Club Holdings Inc. reported Thursday fiscal first-quarter earnings and same-store sales that rose above expectations, and affirmed its full-year outlook. The membership-bases warehouse retailer's stock was still inactive in premarket trade. Net income for the quarter to May 4 rose to $35.8 million, or 25 cents a share, from $14.1 million, or 15 cents a share, in the same period a year ago. Excluding non-recurring items, adjusted earnings per share increased to 26 cents from 20 cents, and topped the FactSet consensus of 25 cents. Total revenue rose 2.7% to $3.14 billion, in line with the FactSet consensus of $3.12 billion, as net sales grew 2.5% to $3.07 billion and membership fee revenue rose 8.0% to $73.4 million. The company affirmed its fiscal 2019 guidance ranges for EPS of $1.42 to $1.50 and for net sales of $12.9 billion to $13.2 billion. The FactSet consensus for EPS is $1.47 and for net sales is $13.05 billion. The stock has rallied 14.7% year to date, while the SPDR S&P Retail ETF has gained 3.1% and the S&P 500 has advanced 13.9%.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.


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