The Latest Breaking News from Best Buy

US stock futures traded lower this morning on Thursday after recording gains in the previous session. Investors, meanwhile, focused on some notable insider trades.

U.S. consumers are shifting their spending habits by prioritizing essential items over discretionary items, according to BofA Securities. The trend has inspired the firm to downgrade the rating for Best Buy Co.

Owning retail stocks this earnings season has been painful. Not only are issues getting annihilated off their own reports, but they are also getting pounded when their peers report disappointing results, both before and after their own results have been posted.

U.S. stocks traded lower toward the end of trading, with the Nasdaq Composite dropping around 300 points on Tuesday.

Best Buy Co. turned in mixed results on diminished expectations for the spring quarter, squeezed by slowing sales and growing costs. Executives lowered their outlook for the rest of the year.

U.S. stocks traded lower midway through trading, with the Dow Jones dropping more than 200 points on Tuesday.

Best Buy Co (NYSE: BBY) shares are volatile Tuesday following the company's first-quarter financial results, which were released before the market opened.

Best Buy Co Inc (NYSE:BBY) reported a first-quarter FY23 sales decline of 8.5% year-on-year to $10.65 billion, beating the consensus of $10.43 billion. Domestic revenue fell 8.7% Y/Y, and International revenue declined 5.4%. Enterprise comparable sales decreased 8% versus 37.2% growth last year. Gross profit decreased 13.3% Y/Y to $2.4 billion, and the…

U.S. stocks traded lower this morning, with the Dow Jones dropping more than 100 points on Tuesday.