Best Buy Co., Inc. (NYSE:BBY) is one of the stocks Jim Cramer recently talked about. Cramer highlighted the reason why the stock rallied. He commented:
“This morning, we had a bunch of surprisingly good retailers… with Abercrombie & Fitch and Kohl’s flying to the stratosphere. But you know what? We also got a great quarter from Best Buy. That’s the world’s largest specialty consumer electronics retailer. They posted a 9-cent earnings beat off a $1.31 basis, higher than expected revenue, strong same-store sales. At the same time, management raised their full-year forecast pretty much across the board, which is why the stock jumped over 5% today.”
Stock market data showing an upward trajectory. Photo by Burak The Weekender on Pexels
Best Buy Co., Inc. (NYSE:BBY) sells technology products, electronics, appliances, and entertainment items, along with related services like delivery, installation, and technical support. Cramer mentioned the stock in his game plan during the November 21 episode and said:
“We have a slew of important earnings on Tuesday from a host of industries. In the morning, for example, we get results from Kohl’s, Best Buy, and DICK’S Sporting Goods. What am I hearing?… Best Buy will be okay. Probably hurt by higher interest rates and tariffs, although that should be offset by a PC refresh cycle.”
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Disclosure: None. This article is originally published at Insider Monkey.
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