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Best Buy Co Inc (BBY): Price Now Near $98.78; Daily Chart Shows Downtrend on 20 Day Basis
The Hourly View for BBY
Currently, BBY’s price is up $0.84 (0.86%) from the hour prior. This is a reversal of the price action on the previous hour, in which price moved down. As for the trend on the hourly timeframe, we see the
clearest trend on the 100 hour timeframe. The moving averages on the hourly timeframe suggest a bearishness in price, as the 20, 50, 100 and 200 are all in a bearish alignment meaning the shorter duration moving averages are below the longer duration averages, implying a stable downward trend.
25 Feb 2021 / 23:12 H.
(For a Reuters live blog on U.S., UK and European stock markets, click LIVE/ or type LIVE/ in a news window.) Jobless claims dip, but still remain elevated Best Buy slips on downbeat annual sales forecast Big tech stocks fall; banks, energy shares gain Indexes down: Dow 0.11%, S&P 0.20%, Nasdaq 0.26% (Updates to market open)
By Devik Jain and Shreyashi Sanyal
Feb 25 (Reuters) - Wall Street s main indexes edged lower on Thursday as heavyweight technology-related stocks remained under pressure with a rise in U.S. Treasury yields, while data showed weekly jobless claims fell more than expected.
The benchmark 10-year Treasury yields hit a one-year high of 1.45%, prompting investors to lock in profits on some high-flying growth stocks due to concerns over heightened valuations.
2 Min Read
(Reuters) - Best Buy Co Inc signaled a slowdown in the coronavirus crisis-driven demand for remote-work computer equipment on Thursday as it missed holiday-quarter sales estimates, sending its shares down 8%.
The rise of home offices and a shift to remote learning by schools raised demand for laptops, webcams, and other computer equipment last year, making Best Buy one of the bigger retail winners of the COVID-19 pandemic.
However, the consumer electronics retailer is unsure how the rollout of vaccines would affect consumer demand and shopping patterns, Chief Financial Officer Matt Bilunas said.
“There is a high level of uncertainty related to the impacts of the COVID-19 pandemic that makes it difficult to predict how sustainable these trends will be,” he said.
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