Reuters - Video

Edition: US | UK | IN | CN | JP

video Finance Videos

3XSQ: Best Buy lacking buyers, sales decline

Tuesday, August 21, 2012 - 03:06

Aug 21 - Shares of Best Buy fell 9 percent after the electronics retailer cut its fiscal-year profit outlook citing lower expectations for sales, and suspended its share buybacks for the year.

▲ Hide Transcript

View Transcript

Ahead best buy is getting used to thinking of ways and are you worried about sunburn. -- -- one of the welcome to three Times Square this Tuesday from Reuters world headquarters in New York. If you invest by -- to -- surely it was facing an uphill battle to turn around the company you'd be right and -- Best buy reported earnings and it's a doozy it's bottom line took a huge hit after sales -- began the eighth time in the last nine quarters. Looks like he can't shake off competitors like Amazon. Best buy also cut its profit outlook and suspend its share buybacks for the year. Meantime investors are running for the hills best buy shares shrinking about 9%. There surely is set to start work in September our advice. Enjoy your time off why. So apple top dog Tim -- probably been popping the bubbly after the tech -- became the biggest company in the world. Over group on Andrew Mason and his crew are probably also opening bottles are likely to drown sorrows. Group on just got smacked in the face by another ratings downgrade this time for Barclays Capital. But cap also slashed its price target as the company -- slowdown in the court daily deals business. Group on shares down 6%. The stock has already fallen about 40% at its disappointing results last week. Later breaking views as coupons best days are behind it. Meredith Whitney said Munis were set for a crash and twenty tang and she was heavily criticized when it didn't happen. But will our power player of the day award but it face the same backlash after making similar noises. The billionaire investor wound down credit default swaps insuring eight point 25 billion dollars of municipal debt according to Wall Street Journal. He was betting more than a dozen US states would keep paying your bills on time. He terminated that wager on the three trillion dollar market five years ahead of schedule as well. This could spook investors in the otherwise sleepy market. And finally now they're not bank robbers on holiday. Just middle class Chinese women protecting their skin from the sun. These brightly colored masks face he needs in a fashion on the shores of China's Zhang Dong province. Made -- -- -- that they'd block head and neck from harmful rays. And make it look like us. As one proud face -- user told the New York Times quote a woman should have fair skin otherwise people will hear hasn't. We're guessing the tan mom from New Jersey would be a big hit among Chinese beach goers. That's the latest from three times whereas this Tuesday you can follow us on Twitter at Reuters Insider. And secondly to -- -- at halftime slash PP. Christopher Smart this is.

Press CTRL+C (Windows), CMD+C (Mac), or long-press the URL below on your mobile device to copy the code

3XSQ: Best Buy lacking buyers, sales decline

Tuesday, August 21, 2012 - 03:06